Question

What is the difference between a sample and population variance?

Answer 1

Refer explanation section

Explanation:

Population Variance `=(sum(x-barx)^2)/N`

Where -

`x` is the observation
`barx` is mean of the series
`N` is size of the population

Sample Variance `=(sum(x-barx)^2)/(n-1)`

Where -

`x` is the observation
`barx` is mean of the series
`n-1` is degrees of freedom (in which `n` is size of the sample.)