VARIENCE
Variance is a measure of how much the values in a data set differ from the mean. It is calculated by taking the average of the squared differences between each data point and the mean. The formula for variance is:
Variance (σ²) = Σ (xᵢ – μ)² / N
where:
Σ represents the sum of all values.
xᵢ represents each data point,
μ is the mean of the data,
N is the number of data points,