Which statistic would best describe the spread of a data set?

Prepare for ASU's STP226 Elements of Statistics Exam 1. Enhance your statistical skills with multiple choice questions, detailed explanations, and practice materials. Master statistical concepts effectively!

The variance is a key statistic that effectively describes the spread of a data set. It measures how far the data points are from the mean on average, providing insight into the variability within the dataset. A higher variance indicates that the data points tend to be spread out over a larger range of values, while a lower variance means they are closer to the mean.

When assessing the spread of a data set, it's essential to understand how much individual data points deviate from the central value. Variance quantifies this deviation, making it a crucial metric for understanding the distribution and spread of the data. In contrast, other statistics like the mean, median, or mode primarily summarize central tendency rather than variability. These measures provide important insights, but they do not convey how dispersed the values are around that central point.

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