Video - Range, variance, and standard deviation

Range, variance, and standard deviation are all measures of the spread or dispersion of a set of numerical data. The range is the difference between the highest and lowest values in the data set. Variance is a measure of how far each value in a set of data is from the mean value. Variance is calculated by taking the average of the squared differences of each value from the mean. The larger the variance, the more spread out the data is from the mean. Standard deviation is the square root of the variance and it measures the spread of data around the mean. The larger the standard deviation, the more spread out the data is from the mean.