The variance of the dataset is the square of their standard deviation
The variance of the dataset is 0.307
<h3>How to determine the variance?</h3>The dataset is given as;
0.0625 0.25 0.5 1.5
Calculate the mean using:
μ = Sum/Count
So, we have:
μ = (0.0625 + 0.25 + 0.5 + 1.5)/4
Evaluate
μ = 0.578125
The variance is then calculated using:
So, we have:
= [(0.0625 - 0.578125)^2 + (0.25 - 0.5781250^2 + (0.5 - 0.578125)^2 + (1.5 - 0.578125)^2]/4
Evaluate
= 1.2294921875/4
Divide
= 0.30737304687
Approximate
= 0.307
Hence, the variance of the dataset is 0.307
Read more about variance at: