The standard deviation is used to analyze the target market, we can predict how the target market is going to respond in the future. The SD Calculator makes it possible to forecast how the target market is going to respond, and what is the nurture of the customer’s responsibility. The brands are going to make the complete marketing scene with the help of the standard deviation.
The standard deviation calculator makes it possible to understand the whole market and its analysis. When a company is able to scan all the elements in the marketplace, then it is easy to set the features of the product and service. You need to calculate the standard deviation then it is easy to find what is the deviation of the dataset. The other thing is how the market responds in the future on the basis of past data.
Practical Example:
In the following example, we are taking responsibility for the customers of clients in a specific market over a period of the year. On the basis of this data, we are going to analyze how many consumers are going to purchase the product or the service.
| Jan | Feb | Mar | April | May | June | July | Aug | Sep | Oct | Nov | Dec |
| 4000 | 4100 | 4400 | 4300 | 4500 | 4400 | 4300 | 4000 | 4200 | 4000 | 4100 | 4200 |
4000, 4100,4400,4300,4500,4400,4300,4000,4200,4000,4100,4200
The analysis of the data:
- Standard Deviation (s) = 172.9862
- Count (n) = 12
- Sum (Σx) = 50500
- Mean (x̄) = 4208.333
- Variance (s²) = 29924.23
- Coefficient Of Variance = 0.0411
- Standard Error of Mean (SE) = 49.936814568045
The Standard deviation table:
| xᵢ | xᵢ – x̄ | (xᵢ – x̄)² |
| 4000 | -208.333 | 43402.638889 |
| 4100 | -108.333 | 11736.038889 |
| 4400 | 191.667 | 36736.238889 |
| 4300 | 91.667 | 8402.8388890001 |
| 4500 | 291.667 | 85069.638889 |
| 4400 | 191.667 | 36736.238889 |
| 4300 | 91.667 | 8402.8388890001 |
| 4000 | -208.333 | 43402.638889 |
| 4200 | -8.3329999999996 | 69.438888999994 |
| 4000 | -208.333 | 43402.638889 |
| 4100 | -108.333 | 11736.038889 |
| 4200 | -8.3329999999996 | 69.438888999994 |
| Σxᵢ = 50500 | Σ(xᵢ – x̄)² = 329166.666668 |
The Margin of Error:
Considering SEM, various confidence levels give you different error margin estimations. As per the study field, a 95% confidence level (significance level = 5%) is what we consider a standard for representing data.
| Confidence Level | Margin of Error |
| 68.3%, σx̄ | 4208.333 ± 49.937 (±9.38%) |
| 90%, 1.645σx̄ | 4208.333 ± 82.146 (±15.43%) |
| 95%, 1.960σx̄ | 4208.333 ± 97.876 (±18.39%) |
| 99%, 2.576σx̄ | 4208.333 ± 128.637 (±24.17%) |
| 99.99%, 3.891σx̄ | 4208.333 ± 194.304 (±36.5%) |
| 99.999%, 4.417σx̄ | 4208.333 ± 220.571 (±41.44%) |
| 99.9999%, 4.892σx̄ | 4208.333 ± 244.291 (±45.89%) |
Frequency Table:
| Value | Frequency |
| 4000 | 3 (25%) |
| 4100 | 2 (16.666666666667%) |
| 4400 | 2 (16.666666666667%) |
| 4300 | 2 (16.666666666667%) |
| 4500 | 1 (8.3333333333333%) |
| 4200 | 2 (16.666666666667%) |
Market Analysis:
The Calculator is used to find the standard deviation of two markets 1 which are more diversified due to spreads and variances. The standard deviation calculator example helps us analyze both markets, you need more homogeneous products and services for the second market. On the other hand, the first market homogeneous strategy for products and services is to achieve maximum sales and profitability. The population standard deviation calculator allows you to find all the values of the data set to analyze at once.
Conclusion:
You can analyze the standard deviation calculator and the mean of the data. There is a separate mean and a calculator is used to analyze the data. You can scan the sample of the data by the sample standard deviation. The other thing which is quite remarkable, you can analyze the whole population by the population sample standard deviation calculator.
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