In population statistics, are variation and variance the same terms? If not, what is the difference between the two?
I know that variance is the square of standard deviation. I also know that it is a measure of how sparse the data is, and I know how to compute it.
However, I've been following a Coursera.org course called "Model Thinking", and the lecturer clearly described variance but was constantly calling it variation. That got me confused a bit.
To be fair, he always talked about computing variation of some particular instance in a population.
Could someone make it clear to me if those are interchangeable, or perhaps I'm missing something?
Variation
, unlikevariance
, is not the name of some specific quantity (however,Coefficient of variation
is). It is a generic term, likevariability
. It is justamount of variability
which can be measured by various quantities (most popular of them beingvariance
). $\endgroup$Variance
is a real statistical term with a formal model standing behind it, butvariation
is just a word describing relation between expected & real data? $\endgroup$