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sample standard deviation.
the sample standard deviation is used to estimate σ in the confidence interval formula. The quantity 1.96σ/ √n is often called the margin of error for the estimate.
Standard deviation (or σ) is a measure of how much the data extends from the mean. A low standard deviation means that the data is gathered around the mean, and a high standard deviation means that the data is more distributed.
Standard deviation is important because it shows how the values are distributed in a particular dataset. Whenever I analyze a dataset, I am interested in finding the following metrics: The center of the dataset. The most common ways to measure the "intermediate" are mean and median. The root means square of the difference between the
observation and the sample mean is called the sample standard deviation. Two or more standard deviations from the mean are considered significant deviations.
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