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What does standard deviation tell you about a data set? and please give a little example too.. Thanking in Advance..
Why on earth do you want to know this for Paper P4 – it is not really relevant for P4 🙂
The standard deviation is a measure of the amount of spread. The further the observations vary from the mean (average) then the greater the standard deviation will be.
I show examples of this, and explain, in my free lectures on portfolio theory (even though – as I explain the free lecture notes – you cannot actually be asked for calculations in the exam).
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