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Analyzing Performance with Variance & Standard Deviation

Learn how to compare your position against competition using probability distributions. Construct bar graphs, calculate mean, and standard deviation to evaluate performance. Includes examples on average height and sales earnings.

jocelyn-cleveland
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Analyzing Performance with Variance & Standard Deviation

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  1. Probability Distributions Unit 11.2

  2. Theme How am I doing compared to the competition? Or, where do I rate compared to everyone else? Variance – Average of the the distance each value is from the mean Standard Deviation – square root of the variance

  3. Process • Construct a bar graph • Calculate for the mean • Examples • What is the average height • How much did the typical salesperson earn • What is the variance or standard deviation? • How well am I doing compared to everyone else

  4. Mean of Probability Distribution

  5. Variance

  6. Exercises Unit 11.2 Problems 7 – 10 • Create a bar graph • Calculate for the mean • Calculate for the standard deviation • Provide a one sentence summary

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