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Mar 23, 2017 at 23:17 comment added kjetil b halvorsen +1. But note that while variance (together with the mean) gives a complete description in the normal case, for nonnormal distribution this might no longer be the case, and other d3scriptors of the data might be much better
Mar 23, 2017 at 22:50 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 15:06 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 14:47 comment added Matthew Gunn @whuber Yeah, I had started writing a CLT example (and now I've added it). The CLT is an extremely practical reason to care about the variance.
Mar 23, 2017 at 14:42 history undeleted Matthew Gunn
Mar 23, 2017 at 14:42 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 14:36 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 14:31 history deleted Matthew Gunn via Vote
Mar 23, 2017 at 14:27 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 14:02 comment added whuber Chebyshev's Inequality is not specific to the variance: an equally useful version exists for every absolute moment with power greater than $1$. I would therefore suggest looking elsewhere for reasons why the SD is important and (almost) universal, such as the unique role played by variance in the Central Limit Theorem.
Mar 23, 2017 at 13:15 history edited Matthew Gunn CC BY-SA 3.0
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Mar 23, 2017 at 13:10 history answered Matthew Gunn CC BY-SA 3.0