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Answer to: the standard deviation of all possible values is called the
In addition to expressing the variability of a population , the standard deviation is commonly used to measure confidence in statistical conclusions . For example , the margin of error in polling data is determined by calculating the expected standard deviation in the results if the same poll were to be conducted multiple times . This derivation of a standard deviation is often called the “ standard error ” of the estimate or “ standard error of the mean ” when referring to a mean . It is computed as the standard deviation of all the means that would be computed from that population if an infinite number of samples were drawn and a mean for each sample were computed . It is very important to note that the standard deviation of a population and the standard error of a statistic derived from that population ( such as the mean ) are quite different but related ( related by the inverse of the square root of the number of observations ) . The reported margin of error of a poll is computed from the standard error of the mean ( or alternatively from the product of the standard deviation of the population and the inverse of the square root of the sample size , which is the same thing ) and is typically about twice the standard deviation — the half – width of a 95 percent confidence interval . In science , researchers commonly report the standard deviation of experimental data , and only effects that fall much farther than two standard deviations away from what would have been expected are considered statistically significant — normal random error or variation in the measurements is in this way distinguished from likely genuine effects or associations . The standard deviation is also important in finance , where the standard deviation on the rate of return on an investment is a measure of the volatility of the investment .
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