Variance & Standard Deviation
Standard deviation measures how spread out the values in a dataset are from the mean. A low standard deviation means values cluster tightly; a high one means they are spread out. It is the square root of variance.
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Fun Fact
Six Sigma is a quality standard meaning 99.99966% of products are defect-free — only 3.4 defects per million opportunities. It gets its name from 6 standard deviations from the mean.
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