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Variance and coefficient of variation are fundamental concepts in business mathematics and statistics used to measure and analyze the dispersion or variability of data. Variance quantifies the spread of a set of data points around their mean, providing insight into how much individual values deviate from the average. It is calculated by taking the average of the squared differences between each observation _____ ______ ______ __________ ____ ______ _____ ____ _______ ___ ________ __________.
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