Energy Investing DeMystified by Davis Edwards

Author:Davis Edwards
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2013-02-21T16:00:00+00:00

FIGURE 5-13 • Variation

The two most common measures of uncertainty are variance and standard deviation. Both of these calculations are based on calculating the square of the difference between each value and the average value as shown in Equation (5.5). The choice of using squared numbers is chosen because it is mathematically easy to calculate and results in a positive number. The downside of this approach is that values far away from the average have a disproportionate effect on the standard deviation. Standard deviation is abbreviated by the lower case Greek letter sigma, σ.

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