Final answer:
Standard deviation measures variation in data around the mean in a probability distribution.
Explanation:
Standard deviation measures how far the outcomes of a statistical experiment are from the mean of the distribution. It is a number that quantifies the amount of variation or dispersion in a set of data.
For example, in a normal distribution with a mean of 50 and a standard deviation of 10, 68% of the values would fall within the range of 40 to 60, and approximately 95% would be between 30 and 70.
The standard deviation is calculated as the square root of the variance and is used to estimate the variability of possible outcomes in a probability distribution.
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