Variance plays a major role in interpreting data in statistics. The most common application of variance is in polls. For opinion polls, the data gathering agencies cannot invest in collecting data from the entire population. They set criteria for sampling the population based on ethnicity, income group, regions, education level, salary and religion, so that the population is completely represented by the samples.

With samples, the data can vary from the mean by a large extent. Variance is used to find the variation of the data from the mean. Interestingly, the variance exaggerates the spread, and thus standard deviation was introduced.

Standard Deviation = Square Root (Variance)

Variance Definition

Variance is represented by (Sigma)^2. In simple mathematical terms, it is the average of the square difference between each data from the mean.

Steps to Calculate Variance

1) Find the mean of the data set

2) For each data, find the difference between the number and the mean

3) Square the resulting number and ...

Categories : Descriptive Statistics |

Average Question is an important topic in GMAT problem solving and data sufficiency. Let us start with the Basics. |

Set A consists of integers -9, 8, 3, 10, and J; Set B consists of integers -2, 5, 0, 7, -6, and T. If R is the median of Set A and W is the mode of set B, and R^W is a factor of 34, what is the value of T if J is negative? |

Categories : Data Sufficiency, Mean, Median, Mode, Standard Deviation, Descriptive Statistics, Problem SolvingEven if you fear statistics by its reputation, it is one of the easiest sections in the GMAT because a standard set of questions is asked and anyone who understands the fundamentals that I shall describe will be able to ace the questions. The three most basic topics in stats are mean, mode, and median. Usually, the GMAT will go one step further into range and standard deviation. |

What is the mode of the set if the average of the set {15, 30, 60, k, 20, 40} is equal to 37.5? |

**Top 31 MBA Programs + Analysis of 24 Industries (United States)**We analyze the MBA Curriculum, Class Profile, Total Cost and Post-MBA Salary of

**Top 31 MBA programs in the US.**

+ Industry Trends

+

+ Industry Trends

**Future of**Aerospace, Agriculture, Artificial Intelligence (AI), Automobile, Clean Tech, Education, Energy, Fashion, Financial Services, Insurance, FinTech, Government, Healthcare, Life Sciences, Military, Manufacturing, Maritime, Media/Advertising, Technology, Tourism, Trade, Transportation and Logistics, Virtual Reality (VR), and Augmented Reality (AR).

**Pages: 327**

**Reviews**

"I have not reviewed many books for MBA Admission consulting companies but doing it now to give all applicants a brief idea on what the book covers. The book includes 31 top MBA programs - almost all the top schools you have heard or considering for your MBA application. Each chapter is categorized by US States where there is at least one top MBA program. So you have California and Massachusetts with the most number of MBA programs and several states with one top program (Washington, Minnesota, Washington D.C., Connecticut, Virginia, and Maryland) and other states with two to three MBA programs. The book focuses on four aspects of an MBA program - curriculum, cost, class profile and post-MBA salary. For me, the breakdown of the cost and post-MBA industry was useful to make my decision on selecting the top 5 programs for 2017-18. It is a fascinating read in an industry where consultants overprice for their expertise. I recently bought a 30-page guide for $49. Compared to the obvious observation in that book, the 300+ page, MBA in US - the Ultimate guide is a goldmine of information and analysis." -

**Verified Purchase (21st June 2017)**

"I bought the ultimate guide after a friend recommended it for me. The guide covers a lot of ground on the history of each prominent US states and goes into the reasons why a certain industry emerged from each state. In addition to the analysis of the economy, trends and expected changes in the next 5 years, the book features top MBA programs in each state with an extensive study of its curriculum. Ultimate guide is an essential reference book for MBA Applicants if they want to shortlist MBA programs based on value and cost, and not just ranking. " -

**Verified Purchase (14th June 2017)**

"Should be a required reading before applying for an MBA. School events and MBA Tours are PR events disguised as a Q&A. On the contrary, the book is an unbiased analysis of each Top MBA program in the US supported by a large dataset and historical context on each industry. The guide builds a case for indstries that are likely to emerge as favourite for MBA graduates. Thorough and a valuable book."

**- Verified Purchase (15th June 2017)**

"What I liked: The breadth of the information. Some of my favorite nonfiction books have taken the same approach as the ultimate guide have - cover background information in-depth. In the book, the author uses parallel threads to demonstrate the history of the state and the rise of industries. Will make you think how schools thrive based on the policy set by the state. California's obsession with Technology has revolutionized how we do Business and changed post-MBA trends. Many MBA applicants will be consulting or doing marketing for a Technology company. That is one key finding from the book. The latest development in AI, FinTech, and Automation is an additional context that I found valuable in the book.

Very informative. I would recommend that you read the book at least once in chronological order before using Table of Contents." -

**Verified Purchase (2nd July 2017)**

Download How to Choose the Best MBA in US: The Ultimate Guide

(2018 Entering Class)

Download How to Choose the Best MBA in US: The Ultimate Guide

(2018 Entering Class)