Variance is a measure of how spread out a set of numbers is and can be calculated by taking the average of the squared differences from the mean. To calculate the variance, first calculate the mean of the data set. Then, for each data point, subtract the mean and square the result. Finally, take the average of this set of squared differences. This will be the variance. For example, if the data set is {1,2,3,4 To calculate variance, you need to find the average of a set of numbers and then subtract each individual value from the average. Then, you need to square each of the differences and divide the sum of the squares by the number of values in the set. This will give you the variance. For example, if you have the values 5, 7, 8, and 10, the average is 8 and the variance is calculated as follows:

(5-8)^2 + (7-8)^2 + (8-8)^2 + (10-8)^2
= 9 + 1 + 0 + 4
= 14

Variance = 14/4
= 3.5

What is variance formula with example?

The formula for variance is the average of the squared differences from the mean. The formula is given as:

Variance = ∑ (x_i — μ)^2 / N

where,
x_i represents each data point,
μ represents the mean of all data points,
N represents the total number of data points.

For example, let’s say we have a dataset of 5 numbers:
2, 4, 4, 4, 10.

The mean (μ) of this dataset is 5.

The variance can then be calculated as:
∑ (x_i — μ)^2 / N
= (2 — 5)^2 + (4 — 5)^2 + (4 — 5)^2 + (4 — 5)^2 + (10 — 5)^2 / 5
= (-3)^2 + (-1)^2 + (-1)^2 + (-1)^2 + (5)^2 / 5
= 9 + 1 + 1 + 1 + 25 / 5
= 36 / 5
= 7.2