Dispersion

Meaning:

Dispersion refers to the extent of the spread or scattering of data values in a dataset. It provides insights into the variability and distribution of values around a central tendency, such as the mean or median. Common measures of dispersion include the range, variance, and standard deviation. A larger dispersion indicates greater variability among the data points, while a smaller dispersion suggests more consistency. Dispersion is crucial in statistical analysis as it helps assess the reliability and stability of data, guiding researchers in making informed interpretations and decisions. Understanding dispersion is fundamental in fields such as finance, physics, and social sciences, where variability in data points is a key factor in assessing risk, precision, and the overall reliability of findings.