Measures of Dispersion — Range, Variance, Standard Deviation, and IQR

In this lesson, we will learn the main statistical measures used to measure data spread and variability. We will understand range, variance, standard deviation, interquartile range, and coefficient of variation through practical examples. ## Lesson objective In this lesson, we will learn measures of dispersion. In the previous lesson, we covered measures of central tendency. We learned mean, median, mode, how outliers affect averages, and concepts such as weighted average and trimmed mean. But explaining data only with average is not enough. Two datasets may have the same mean, but their spread can be completely different.