In almost all of the cases, you will use standard deviation for a sample.Īgain in layman terms, you use the term ‘population’ when you want to consider all the datasets in the entire population. Calculating the standard deviation for an entire population: The formulas in this category are STDEV.P, STDEVPA, and STDEVP.Calculating the sample standard deviation: The formulas in this category are STDEV.S, STDEVA, and STDEV.These six formulas can be divided into two groups: There are six standard deviation formulas in Excel (eight if you consider database functions as well). While it’s easy to calculate the standard deviation, you need to know which formula to use in Excel. This can also be a case when there are many outliers in the data set. A higher value indicates that there is widespread variation in the data points.
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