The formula used for calculating the variance of a population is different from that used for calculating the variance of a sample.

Question

Quizplus · Accepted Answer

The formula for calculating the variance of a population is σ^2 = Σ(xi-μ)^2/N, where σ^2 is the population variance, xi is an individual data point, μ is the population mean, and N is the number of data points in the population. The formula for calculating the variance of a sample is s^2 = Σ(xi-x̄)^2/(n-1), where s^2 is the sample variance, xi is an individual data point, x̄ is the sample mean, and n is the sample size minus one. Therefore, the formulas used for calculating population and sample variances are different.

The Formula Used for Calculating the Variance of a Population