Variance Calculator

How to Use the Variance Calculator

This Variance Calculator allows you to calculate the mean, variance, and standard deviation from your dataset. Follow the steps below to use the calculator effectively.

Step 1: Select Data Type

The first input field is the Data Type. Choose whether your dataset represents a Population Variance or a Sample Variance. This selection affects the calculation of variance. Make sure to select an option that applies to your data.

Step 2: Enter Values

There are five input fields labeled Value 1 through Value 5. Here’s how to enter your data:

• Value 1, Value 2, and Value 3 are required. Enter numbers in these fields as they form the core of your dataset. These fields are mandatory for calculation.
• Value 4 and Value 5 are optional. You can enter numbers in these fields if you have additional data to include. Otherwise, these fields can be left blank.
• Each field accepts any real number value standardized to the input step of ‘any’.

Review Your Entries

Verify that all required fields contain valid numeric values and confirm your optional entries, if any, are correct. This will ensure accurate calculation results.

Calculation Results

Upon entering the necessary values and confirming the data type, the calculator will automatically compute:

• Mean: The arithmetic average of the provided values shown with up to four decimal precision.
• Variance: Depending on the type (population or sample) selected, the variance is calculated and displayed to four decimal places. For the population variance, it divides by the number of values. In contrast, for sample variance, it divides by the number of values minus one.
• Standard Deviation: The square root of the variance result providing you with a measure of data dispersion in four-decimal precision format.

These results provide you with statistical insights into your data, highlighting both central tendencies and variability.

Final Notes

Ensure all data input is accurate and relevant to your analysis. Understand the differences between population and sample variance to select the correct calculations for your data needs. Use these calculated statistics to inform decision-making or further data analysis tasks.