Probability Some Background Information Related Topics: Confidence Intervals The fact that the standard deviation measures the degree of variation without regard for the direction is not a problem in symmetrical distributions. Measures of Central Tendency Although the mean is perhaps the most common measure of central tendency of a distribution by virtue of its stability, it is not the only one. More About Standard Deviation The standard deviation is the square root of the average of the squares of the individual deviations from the mean value. Overview of Probability Probability provides the means to analyze the possible outcomes of a given process. Sampled Distributions Because plotting all the outcomes of a process on a graph would be very time consuming, we usually sample the outcomes of an experiment. Parent Topic: Risk Analysis
