What is Standard Deviation? A Complete Guide
Standard deviation (Ο or s) measures how spread out numbers are in a data set. It tells you how much individual data points deviate from the mean. A low standard deviation means data points cluster closely around the mean; a high standard deviation means data is spread out over a wider range.
Two types of standard deviation:
- Population Standard Deviation (Ο): Used when you have data for every member of a population. Formula: Ο = β[ Ξ£(x - ΞΌ)Β² / N ]
- Sample Standard Deviation (s): Used when you have a sample of a larger population (divides by n-1 for unbiased estimate). Formula: s = β[ Ξ£(x - xΜ)Β² / (n-1) ]
The Empirical Rule (68-95-99.7 rule) for normally distributed data: 68% within 1 SD of mean, 95% within 2 SD, 99.7% within 3 SD. This calculator automatically computes both population and sample standard deviations with step-by-step explanations.