Estimation of Variable | set 1

Variability: It is the import dimension which measures the data variation i.e. whether the data is spread out or tightly clustered. Also known as Dispersion When working on data sets in Machine Learning or Data Science, it involves many steps – variance measurement, reduction, distinguishing random variability from the real one. identifying sources of real variability, making decisions regarding the pre-processing choice or model selection based on it.

Terms related to Variability Metrics :

-> Deviation 
-> Variance
-> Standard Deviation
-> Mean Absolute Deviation
-> Meadian Absolute Deviation
-> Order Statistics
-> Range
-> Percentile 
-> Inter-quartile Range