Measures of Dispersion: Standard Deviation, Lorenz Curve with Examples

The compilation of these Economics Notes makes students exam preparation simpler and organised.

Measures of Dispersion

When studying any observation, like population or such demographics, we usually study the extent of its variation. This is the degree of variation from the central value of the observation. This is what is known as measures of dispersion and it is a very important aspect of economics. Let us get started!