What is the formula for calculating variance and error percentage based on the total number of samples?

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Accepted Answer

The formula for calculating variance is the sum of squared differences between each data point and the mean, divided by the total number of samples. Error percentage is the absolute difference between the actual and predicted values, divided by the actual value, multiplied by 100.

Variance = Σ((X - μ)²) / N, where X is each data point, μ is the mean, and N is the total number of samples
Error percentage = |(Actual - Predicted) / Actual| * 100
Example: If we have 5 data points (10, 12, 15, 18, 20) and the mean is 15, the variance would be calculated as ((10-15)² + (12-15)² + (15-15)² + (18-15)² + (20-15)²) / 5
Example: If the actual value is 50 and the predicted value is 45, the error percentage would be |(50-45) / 50| * 100

What is the formula for calculating variance and error percentage based on the total number of samples?

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