A team wants to quantify how far daily values usually fall from the average, using a single measure on the same unit scale as the dataset. Which measure meets this goal best?
One measure finds typical distances from the average by taking a square root of the average of squared distances, which preserves the original unit scale. This helps depict data spread in a way that is directly comparable to the original measurements. Range looks at extremes, which can distort typical spread. Variance is reported in squared units instead of the data’s scale. Distribution is not a single number but a set of values that show how data are spread out.
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What exactly is standard deviation and how is it calculated?
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Why is standard deviation preferred over range for measuring spread?
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What is variance and how does it relate to standard deviation?