Variance is a statistical measure that quantifies the dispersion or spread of a set of values around their mean (central value). It is calculated by taking the average of the squared differences between each value and the mean of the dataset. A higher variance indicates that the data points are more spread out from the mean, while a lower variance suggests that they are closer to the mean. This measure is fundamental in statistics to understand the degree of variability within a dataset.​WikipediaWikipedia+1Investopedia+1
[Reference:Variance - Wikipedia, ]
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