Bayesian Statistics the Fun Way: Understanding Statistics and Probability with Star Wars, LEGO, and Rubber Ducks by Will Kurt

Author:Will Kurt [Kurt, Will]
Language: eng
Format: epub, mobi
Tags: Non-Fiction, Mathematics, Statistics, Science, Textbook
ISBN: 9781593279578
Publisher: No Starch Press
Published: 2019-06-30T22:00:00+00:00

This formula, which has a very special place in the study of probability, is called the variance. Notice that the equation for variance is exactly the same as MAD except that the absolute value function in MAD has been replaced with squaring. Because it has nicer mathematical properties, variance is used much more frequently in the study of probability than MAD. We can see how different our results look when we calculate their variance:

Var(group a) = 0.002, Var(group b) = 0.269

Because we’re squaring, however, we no longer have an intuitive understanding of what the results of variance mean. MAD gave us an intuitive definition: this is the average distance from the mean. Variance, on the other hand, says: this is the average squared difference. Recall that when we used MAD, group b was about 10 times more spread out than group a, but in the case of variance, group b is now 100 times more spread out!

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