what is deviation?

D

detourglr

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I have a program on my iphone called poker journal that I keep record of my poker sessions..
there is a stat called "Standard Deviation"
What is it?
How is it figured?
And what goal do you want on that figure?
 
dmorris68

dmorris68

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I'm not familiar with that App, so can't exactly describe the context it's being used in, but standard deviation is a statistical term that indicates how far a value deviates or varies from the mean (average) for that value over a sample data set. A lower standard deviation means the values are closer to the mean (expected value) indicating lower variance, while a higher one means they're spread out farther away from the mean indicating higher variance. So it's useful in describing variance, and is calculated as the square root of the variance of the sample.
 
Kenzie 96

Kenzie 96

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I can't define it, but I know it when I see it. ;)
 
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