Measures spread of data around the mean. Low σ = data clustered near mean; high σ = data spread out.
Finance — Stock volatility is standard deviation of returns.
Quality control — Six Sigma = process within 6σ of target.
Weather — Temperature variability across seasons.
Sports — Consistency of player performance.
Medicine — Variability in patient vital signs.
Manufacturing — Tolerance limits: mean ± 3σ.
Education — Spread of test scores.
Polling — Margin of error based on σ.
Psychology — IQ distribution (mean=100, σ=15).
Insurance — Risk assessment through claim variability.
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