The variance of the data set is 0.43.
The variance is used to measure the spread or the dispersion of a dataset using all the data points in the dataset. The variance is the sum of the squared difference between the data point and the mean.
The first step is to determine the mean: (0.40 + 0.72 + 1.15 + 2.14) / 4
= 4.41 / 4= 1.10
The second step is to subtract the mean from each of the data point and square the difference:
Add the sum of the squared differences and divide by 4 : 1.7125/4 = 0.43
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