How to determine Standard Deviation?
• Standard deviation can be taken from secondary data. • If you are an expert researcher then you can estimate the standard deviation. • Third option is to take the sample of 30 and measure its actual standard deviation • Define precision level (e.g. ±1, ±2 etc). • Precision level varies from research to research and according to the objectives of the research. • Define confidence level (e.g. 90%, 95% etc). • Determine corresponding Z value for confidence level. • Determine standard deviation.
Related Questions
- What parameters are used to calculate the standard deviation in order to equalize the contracts for volatility?
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