The variance of some data can be defined in rough terms as the mean of the squared deviations from the mean. Let’s repeat that because it is important: Variance: Mean of squared deviations from the mean. An example helps to illustrate. Assume some class of students are forced to write an exam in a statistics class (OMG). Let’s say the grades range fom 1 to 6, 1 being the best and 6 the …