Which Is a Better Measure of Variability, the Variance or the Standard

question 51

Essay

Which is a better measure of variability, the variance or the standard deviation? Explain.

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Definitions:

Charter

A formal document or grant bestowing rights, privileges, or authority, often used to establish towns, cities, organizations, or institutions.

Fundamental Rights

Basic human rights recognized and protected by law, including freedom of speech, religion, and the right to privacy, often enshrined in a nation's constitution.

European Union

A political and economic union of 27 member countries located primarily in Europe, promoting free movement of goods, services, and people among member states.

Labor Standards

Set of regulations governing the minimum conditions of employment, including working hours, wages, safety, and child labor protections.