This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along with range, interquartile range (IQR) and standard deviation. Understanding variance is important because it gives you insight into the spread of your data and can be used to compare differences in sample groups or identify important modeling features. Variance is also used in machine learning to understand changes in model performance due to using different samples of training data. Calculating variance is easy using Python. Before…
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