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What is the difference between a sample and population variance?

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Oct 30, 2015

Refer explanation section

Explanation:

Population Variance $= \frac{\sum {(x - ¯ x)}^{2}}{N}$ $=(sum(x-barx)^2)/N$

Where -

$x$ $x$ is the observation
$¯ x$ $barx$ is mean of the series
$N$ $N$ is size of the population

Sample Variance $= \frac{\sum {(x - ¯ x)}^{2}}{n - 1}$ $=(sum(x-barx)^2)/(n-1)$

Where -

$x$ $x$ is the observation
$¯ x$ $barx$ is mean of the series
$n - 1$ $n-1$ is degrees of freedom (in which $n$ $n$ is size of the sample.)

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