From the course: Statistics Foundations 1: The Basics
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Standard deviation - Microsoft Excel Tutorial
From the course: Statistics Foundations 1: The Basics
Standard deviation
- A dataset is a collection of data points. We've seen that, together, these data points have a mean, median and mode. And we've also just seen that those data points have a standard deviation and a range. All of those tools helped us define the collective, tell a story. But how can we define each individual data point within the data set? For example, the dataset has a mean of 139 pounds, and a standard deviation of 41 pounds. The data set has a pretty big data point of 231 pounds. Other than saying it's a very big data point, or that it's 92 pounds above the mean, how else can we describe how big this data point is inside of this dataset? Well, we can describe individual data points by their distance from the mean by using the standard deviation. We refer to this as a data point's Z score. To find a Z score, we use this formula. As you can see, all you need is the dataset's mean and standard deviation. Then, all…
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