In the data set below, what is the standard deviation? If the answer is a decimal, round it to the nearest tenth. standard deviation \( (\sigma) \) :

To calculate the standard deviation, first, find the mean of the data set. Next, subtract the mean from each data point and square each result. Then, calculate the average of these squared differences. Finally, take the square root of that average. If you provide the specific data set, I can help you compute the standard deviation and round it to the nearest tenth! Consider this: standard deviation is a key indicator of how spread out the values in your data set are. A low standard deviation means that the data points tend to be close to the mean, whereas a high standard deviation suggests a wide spread. In practice, understanding standard deviation can empower you in various fields such as finance, science, and social studies. For instance, in finance, a high standard deviation in investment returns indicates greater risk, helping investors make informed decisions or strategize on risk management.