Calculate standard deviation, variance, mean, and other statistical measures for your dataset with step-by-step explanations.
Standard deviation measures the amount of variation or dispersion in a set of values. A low standard deviation indicates values are close to the mean, while a high standard deviation indicates values are spread out.
Use sample standard deviation when working with a subset of data, and population standard deviation when you have data for the entire population. The formulas differ by using n-1 for sample and n for population.
Standard deviation is used in finance for risk assessment, in quality control for process variation, in research for data analysis, and in many scientific fields to understand data distribution.
About 68% of values fall within 1 standard deviation of the mean, 95% within 2 standard deviations, and 99.7% within 3 standard deviations (in a normal distribution).