- #FleetingNote
Why does variability matter?
While the central tendency, or average, tells you where most of your points lie, variability summarizes how far apart they are. This is important because it tells you whether the points tend to be clustered around the center or more widely spread out.
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Low variability is ideal because it means that you can better predict information about the population based on sample data. High variability means that the values are less consistent, so it’s harder to make predictions.
Data sets can have the same central tendency but different levels of variability or vice versa. If you know only the central tendency or the variability, you can’t say anything about the other aspect. Both of them together give you a complete picture of your data.
References
- https://www.scribbr.com/statistics/variability/