1. Measures of Dispersion
Course Name
Quantitative Techniques
Course Code
PGHRM1C003TM2C005T
Course In Charge
Anjali Pathania

3. Concept of Descriptive Statistics
Descriptive Statistics is that branch of statistics that uses techniques to give meaning or description to raw data.
Three major properties that describe a set of quantitative data are:
The numerical value of an observation (also called central value) around which most numerical values of all other observations in the data set show a tendency to cluster around is called central tendency.
The extent to which numerical values in data set are dispersed around the central value is called variation.
The extent of departure of numerical values from symmetrical (normal) distribution around the central value in data set is called skewness
Source: J.K. Sharma, Business Statistics

4. What is the difference in the three distributions???

5. Measures of Variability/ Dispersion
Dispersion of values in any data set is indicated by the extent to which these values tend to spread over an interval rather than cluster closely around an average.
Techniques used to measure extent of variation or deviation (also called degree of variation) of each value in data set from a measure of central tendency usually mean or median are called measures of dispersion (or variation )
Range
Variance
Inter -quartile Range
Standard Deviation
Coefficient of Variation
Source: J.K. Sharma, Business Statistics

6. Understanding Standard Deviation

7. Standard Deviation: Ungrouped Data
Source: J.K. Sharma, Business Statistics

8. Standard Deviation: Grouped Data
Source: J.K. Sharma, Business Statistics

9. Understanding Variance

10. Variance
Source: J.K. Sharma, Business Statistics

11. Variance and Standard Deviation: For Individual Series
Example : The wholesale prices of a commodity for seven consecutive days in a month is as follows:
Days :
Commodity
price/quintal :
Calculate the variance and standard deviation.
Source: J.K. Sharma, Business Statistics

12. Source: J.K. Sharma, Business Statistics

13. Variance and Standard Deviation: For Continuous Series
Source: J.K. Sharma, Business Statistics

14. THANK YOU