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Now let’s look at the spreadsheet again and explain how it works. You can say that for each standard deviation, the probability or likelihood that that number is inside that number of standard deviations is: STDĪs you can see, the chance that any SAT score is outside 3 STD’s is practically zero, because 99.73 percent of the scores are within 3 STD’s.
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Standard deviation and probability are closely-linked. “Percentile rank” means the percentage of scores are lower than one particular score. Percentile Rank – When a student receives a high score, they can brag that they are in the top 99 percentile or something like that. Please note, it is common to abbreviate standard deviation using the Greek symbol sigma “σ.” You could say that the standard deviation is the average difference between the average value and the observed value, i.e. If the standard deviation is large, then the numbers are far apart and if it is zero, all the numbers are the same. Standard Deviation (STD or σ) – This number shows how widely dispersed a set of numbers are. So how would we, or a university, measure and interpret SAT scores? Below are SAT scores for five students ranging from 1,870 to 2,230.Īverage – Average is also referred to as the “mean.” Universities want to know this too because many universities, especially prestigious ones, turn down students with low SAT scores. They might want to know how they rank compared to other students. We use the same technique to pick shoes, except this time we use VOOKUP instead of HLOOKUP.Īlmost everyone knows one formula from statistics – average – but there is another statistic that is important for business: standard deviation.įor example, many a person who has gone to college has agonized over their SAT score.