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Download Solution PDFStandard deviation method was given by Karl Pearson in
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MPPSC Assistant Prof 4th Aug 2024 Sociology Paper II
Answer (Detailed Solution Below)
Option 3 : 1893
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MPPSC Assistant Professor UT 1: MP History, Culture and Literature
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Download Solution PDFThe correct answer is - 1893
Key Points
- Standard Deviation Method
- The standard deviation is a measure of the amount of variation or dispersion in a set of values.
- It was introduced by Karl Pearson in the year 1893.
- This statistical tool is widely used in fields such as finance, research, and engineering to quantify variability.
Additional Information
- Background of Karl Pearson
- Karl Pearson was a pioneering British mathematician and biometrician.
- He made significant contributions to the field of statistics and is often considered one of the founders of modern statistics.
- He developed the method of moments and the chi-squared test, among other statistical methods.
- Importance of Standard Deviation
- It provides a quantitative measure of the spread of data points in a data set.
- In finance, it is used to measure market volatility and risk.
- In quality control, it helps in determining the consistency and reliability of processes.
- Calculation of Standard Deviation
- The standard deviation is calculated as the square root of the variance.
- Variance is the average of the squared differences from the mean.
- The formula for standard deviation (σ) is:
- σ = √Σ((x - μ)² / N)
- Where Σ is the sum of, x is each value, μ is the mean of the values, and N is the number of values.
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