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Average Deviation. In statistics, the absolute deviation of an element of a data set is the absolute difference between that element and a given point. The average deviation of a data set is the average of the absolute deviations. The average deviation is also called the average absolute deviation.
The standard deviation is a mathematical formula for the average distance from the average.This tells you how spread out a group of items is. We donât care about the actual position of the points.Imagine we have two lists of stock prices.y Marissa Hill | Jun 11, 2013 | |. The standard deviation is a mathematical formula for the average distance from the average. This tells you how spread out a group of items is. We donât care about the actual position of the points.