Measures Of Spread In Real Life [Application of measures of dispersion in real life]

This video discusses how and where the measures of spread can be used in real life applications. Range, Standard deviation, Co-efficient of variation are some measures of spread.
The video is interspersed with various examples from real life applications where the measures of spread or measures of dispersion are used.
The video also cites using examples from real life applications where the various measures of spread can and cannot be used.
Watch the video till the end so that you do not miss out on the discussion on tips and thumb rules related to uses of measures of spread in real life applications.
The links to the various videos suggested in this video are as below:
a. Basic Concepts of Statistics : • Basic Concepts of Stat...
b. Descriptive Statistics - Examples & Concepts (Mean/Median/Mode) : • What is Descriptive St...
c. Descriptive Statistics - Examples & Concepts (Part 2 : Range, MAD, Standard Deviation, Co-efficient of Variation) : • Descriptive Statistics...
d. Application of Mean, Median and Mode : • Application of Mean, M...
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[@ravikedia509]

Thank you Sir I am doing CA and plaining a career in finance your channel is very helpful for me. You separate learning from studying. In coaching classes and home we do only study but only study is not useful if you want to make a career in that field you have to have a knowledge of practical application of those concepts. I found your channel very useful and hope you will continue uploading such kind of videos Thanks again.... 🙏

[@LearningPuree]

Thanks for the appreciation. All the best. New videos coming soon.

[@lakshitakamboj198]

I have my first ever data science interview tomorrow and this is what I was looking for....
Thanks, sir, I cant thank you enough...

[@SD-un3ii]

Thank you very much, this video has given very good understanding.
Please, make video on standard deviation and variance in real life uses.

[@LearningPuree]

The present case itself is a real-life case. You may need to extend the thinking related to the concept on similar lines as described in the case.

[@sureshm430]

I have to appreciate you, as you have taken real time examples and its scenarios. most of the videos explain the SD, IQR, VARIANCE by taking the data and applying formula. But you, its totally different which is very important for Analytics aspirants...

[@LearningPuree]

Thanks Suresh. Appreciate it! Glad you found it useful!!

[@everyonecan3338]

Wow your videos are so clear ,no University professor can teach like this.thank you for your quality teaching

[@LearningPuree]

Thank you

[@ikayikay9011]

The best so far. This is how teaching is supposed to be. I have searched the internet to understand the usefulness of these descriptive statistics measures but non could practicalize it as you have done. It was all about how to calculate it, which software application can do that. I doff my hat to you. Continue the good work. Good teacher

[@LearningPuree]

Glad it was helpful! Thanks for your appreciation.

[@ikayikay9011]

@@LearningPuree I recommended you to my colleague

[@LearningPuree]

Thanks. Appreciate the gesture.

[@chittipolinaidu1897]

I appreciate your passion for the subject. I like the way you connect the theory with the real world application. Thanks a lot

[@LearningPuree]

Thanks for the appreciation.

[@TWGTravelwithGandharv]

Amazing video with great real life examples exactly what I was looking for thank you so much

[@LearningPuree]

Gandharv, Thanks. I hope you will like the videos on other topics as well.

[@piyush7834]

Great Video Sir.....❤

[@LearningPuree]

Thanks 🙂.. Please subscribe and share with your acquaintances. I wish more students to benefit from the information.

[@kalindiparekh5326]

A perfectly paced and great video!

[@LearningPuree]

Glad you liked it!

[@CuteLittleBabyGirl12]

Great attempt sir! Very informative video!!

[@LearningPuree]

I am happy you found it useful.

[@sathwikasiddu5230]

Amazing lecture!!!

[@LearningPuree]

Glad it was helpful!

[@swatiphatak6764]

Thank you LearningPuree. Your videos are very informative and succinct. Can you make a video and explain how this concept can be applied to household management? Thank you

[@LearningPuree]

Sure. Will be happy to do so.

[@LearningPuree]

Released a video that briefly touches on how to use SD to manage household expenses

[@harshalpatil0359]

Sir your work too good but sir can you give us simple practical examples for understanding please sir🙏🙏 it's a humble request 🙏🙏

[@LearningPuree]

Harshal, these are actually examples that you can apply in 'real' life scenarios. However, will try to seek out more applications.

[@hussienkemal4140]

Thank u sir

[@LearningPuree]

Thank you for watching.

[@rajeshnayak409]

Sir informative video,
If you slow down explanation it would help for better understanding.

[@LearningPuree]

Noted

[@mayomayo9557]

Thank you sir for the lesson. Sir, can I use the IQR/Median with not skewed data? I'm confused in which is more reliable between IQR and standard deviation.

[@LearningPuree]

The slide on Thumb rules explains the comparison. If there is data and there is an equation one can use the equation. But, whether the output is useful should guide the thought of using that equation. The point to ponder should not be whether we can use it, but rather whether it is useful?! The same holds for your second query.

[@konhai5528]

at 12:11, q1= 337,5, and q2= 427

[@LearningPuree]

The quartiles in the presentation are correct when using exclusion method in Excel. Despite use of any other method, the understanding for a quartile remains the same.

[@amaradoumbia8603]

Well done :)

[@LearningPuree]

Thank you

[@anantdate8440]

👍

[@LearningPuree]

👍