Variance Formula
The variance for a data set is denoted by the symbol σ2. For population data, its formula is equal to the sum of squared differences of data entries from the mean divided by the number of entries. While for sample data, we divide the numerator value by the difference between the number of entries and unity.
Sample Variance Formula
If the data set is a sample the formula of variance is given by,
σ2 = ∑ (xi – x̄)2/(n – 1)
where,
- x̄ is the mean of sample data set
- n is the total number of observations
Population Variance Formula
If we have a population data set, the formula is written as,
σ2 = ∑ (xi – x̄)2/n
where,
- x̄ is the mean of population data set
- n is the total number of observations
We can also calculate the variance for grouped and ungrouped data sets. Various formulas for the variance are,
Variance Formula for Grouped Data
For grouped data, the variance formula is discussed below,
Sample Variance Formula for Grouped Data (σ2) = ∑ f(mi – x̄)2/(n-1)
Population Variance Formula for Grouped Data (σ2) = ∑ f(mi – x̄)2/n
where,
- f is the frequency of each interval
- mi is the midpoint of the ith interval
- x̄ is the mean of the grouped data
For grouped data mean is calculated as,
Mean = ∑ (fixi) / ∑ fi
Variance Formula for Ungrouped Data
For ungrouped data, the variance formula is discussed below,
- Sample Variance Formula for Ungrouped Data (σ2) = ∑ (xi – x̄)2/(n-1)
- Population Variance Formula for Ungrouped Data (σ2) = ∑ (xi – x̄)2/n
where x̄ is the mean of the grouped data
Formula for Calculating Variance
The formula used for calculating the Variance is discussed in the image below,
Variance
Variance is a measurement value used to find how the data is spread concerning the mean or the average value of the data set. It is used to find how the distribution data is spread out concerning the mean or the average value. The symbol used to define the variance is σ2. It is the square of the Standard Deviation.
The are two types of variance used in statistics,
- Sample Variance
- Population Variance
The population variance is used to determine how each data point in a particular population fluctuates or is spread out, while the sample variance is used to find the average of the squared deviations from the mean.
In this article, we will learn about Variance (Sample, Population), their formulas, properties, and others in detail.
Table of Content
- What is Variance?
- Variance Definition
- Types of Variance
- Variance Symbol
- Variance Example
- Variance Formula
- Sample Variance Formula
- Population Variance Formula
- Variance Formula for Grouped Data
- Variance Formula for Ungrouped Data
- Formula for Calculating Variance
- How to Calculate Variance?
- Variance and Standard Deviation
- Variance and Covariance
- Variance Properties
- Examples on Variance Formula
- Summary – Variance
- FAQs on Variance
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