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Standard deviation is the most informative measure of data variability because it quantifies the average deviation of each data point from the mean. By providing insight into the spread of data values around the mean, standard deviation helps analysts understand how clustered or dispersed the data is, which is crucial for interpreting patterns and making comparisons between datasets. Standard deviation is particularly valuable in assessing consistency and identifying outliers, making it essential in descriptive statistical analysis. The other options are incorrect because: • Option 1 (mean) is a central tendency measure, not a measure of variability. • Option 2 (median) indicates the central value but not data spread. • Option 3 (mode) is useful for frequency analysis but not for assessing variability. • Option 5 (range) provides a simple variability measure but lacks the detail of standard deviation, as it only considers extremes.
Similar to the Stock Exchanges in IFSC, the Bullion Exchange shall be required to submit MDR (Monthly Development Report) to IFSCA on a what frequency b...
How much additional financing did the World Bank approve to support India’s low carbon transition?
How does Green GDP differ from traditional GDP?
As per Global Financial Centres Index (GFCI)- 33, what is the rank of GITY City - Gujrat?
Ensuring hassle-free credit availability at a cheaper rate to farmers has been the top priority of the Government of India. Accordingly, the Kisan Credi...
Under the IFSCA Act the Central Government may remove from office a Member, who______________
Which of the following is not a goal of project management?
Which of the following activities, External Commercial Borrowings can not be used?
In order to strengthen the nursing workforce in the country, the Cabinet Committee on Economic Affairs, has approved the establishment of _______ new nu...
How many Free Trade Agreements (FTAs) did India sign between 2021 and 2024?