I was wondering what the difference between the variance and the standard deviation is.
If you calculate the two values, it is clear that you get the standard deviation out of the variance, but what does that mean in terms of the distribution you are observing?
Furthermore, why do you really need a standard deviation?
Best Answer
The standard deviation is the square root of the variance.
The standard deviation is expressed in the same units as the mean is, whereas the variance is expressed in squared units, but for looking at a distribution, you can use either just so long as you are clear about what you are using. For example, a Normal distribution with mean = 10 and sd = 3 is exactly the same thing as a Normal distribution with mean = 10 and variance = 9.