This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along ...

Variance is a statistical calculation that numerically describes the amount of variation in a data set. If values in a data set wildly fluctuate, variance would be high and predictions based on the ...

We consider the problem of modifying the linear Bayes estimator for the mean of a distribution of unknown form by using an estimate of sample variance. The general conditions under which there is no ...