Question

What is the appropriate measure of variation (spread) for these data points?

Answer 1

The appropriate measure of variation (spread) for these data points is "Standard deviation."

What is Standard deviation?

The standard deviation would be a statistic that calculates as the square root of the variance and measures the distribution of a set of data relative to its mean.

Some key features regarding the Standard deviation are-

• The standard deviation is determined as the square root of the variance by determining the deviation of each data point from the mean.
• In finance, standard deviation is frequently employed as an assessment of an asset's relative riskiness.
• A volatile stock does have a high standard deviation, whereas a stable blue-chip stock has a low deviation.
• The standard deviation, on the other hand, calculates those ambiguity as risk, even when it is in the investor's favor, like above-average returns.

To know more about the Standard deviation, here

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The complete question is -

What is the appropriate measure of variation (spread) for these data points?

1 6

5 4

2 3

5 4

6 5

5 7

4 6

3 5

8 6

7 9