18 Statistical dispersion methods
This chapter covers
- Measures of statistical dispersion
- Variance method
- Standard deviation method
- Range method
- Mean absolute deviation method
- Median absolute deviation method
- Computing churn
- Creating pyramid plots
Our primary purpose here is to introduce several methods of statistical dispersion. Otherwise known as statistical variability or spread, statistical dispersion is a measure of how much a vector of continuous data is spread out or scattered around a middle value. It’s often not enough to just know the mean or median; knowing the methods by which to compute statistical dispersion is essential for gaining a true understanding of numeric data, with practical implications around assessing risk and measuring ...
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