Standard Deviation | Web Scraping Tool | ScrapeStorm

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Introduction

Standard Deviation is a statistic that expresses the variability or dispersion of data. Specifically, it is an index that measures how far each value of the data is from the mean, and it numerically indicates the amount of variation in a data set. The smaller the standard deviation, the more concentrated the data is around the mean, and the larger the standard deviation, the more spread out the data is.

Applicable Scene

In the stock market and in investment, standard deviation is used as an indicator of risk. By measuring the fluctuation range of stock prices, we can understand the risk of investment. In manufacturing, standard deviation is used to evaluate the variation in product quality. It is important to ensure the uniformity of products on the production line. When analyzing test scores or grade distributions, standard deviation can be used to evaluate the degree of variation in student performance.

Pros: Standard deviation directly indicates the degree of dispersion of data, making it easy to understand the distribution of data. Standard deviation is relatively easy to calculate, so it is widely used in statistical analysis. Standard deviation is a versatile indicator used in various fields, and is particularly important in understanding the shape of data distribution.

Cons: Standard deviation is sensitive to outliers. When outliers are present in the data, the standard deviation can be large and may not accurately reflect the actual variation. Standard deviation works best with normal distributions, but can be difficult to interpret with other distributions (e.g., skewed or asymmetric). Standard deviation depends on the units of the original data. For example, if you calculate standard deviation on data that measures distance, the result will be expressed in units of distance, but it may be difficult to interpret if expressed in other units.

Legend

1. Standard deviation overview.

2. Standard deviation formula.

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Reference Link

https://en.wikipedia.org/wiki/Standard_deviation

https://www.investopedia.com/terms/s/standarddeviation.asp

https://www.calculator.net/standard-deviation-calculator.html