What is population variance?
Population variance is the numerical amount a population differs from one another.
A population's variance tells you how widely the data is distributed.
For example, if your mean is 10 but you have lots of variability in your data, with measurements far greater and lower than 10, you will have high variance. If your population has a mean of 10 and you have very little variation, with most of your data measured as 10 or close to 10, then you will have a low population variance.
Population variance is measured as follows: