gmatinjuly wrote:Deviation = sum of deviation from mean
This is not quite accurate. The SD deviation is a lot more complicated and involves squares and roots.
For the purposes of the GMAT, you will NEVER need to calculate standard deviation. Here's what you may need to know:
(1) the more spread out the terms are, the higher the SD; the more compact the terms are, the lower the SD.
GMAT questions testing this concept will involve easy to evaluate choices, so a quick glance will tell you what set has a higher SD.
(2) in graph form, the steeper the curve, the lower the SD; the flatter the curve, the higher the SD (i.e. a very steep bell means that the numbers are tightly packed and the SD will be lower than a flat bell in which the numbers are more spread out).
(3) to calculate the SD of a set, one needs to know the number of terms and the exact spacing of the terms. (3) arises most often in the context of a data sufficiency question. Of course, if we know all the terms in a set, we can calculate SD, but we don't actually need to know what the terms are.
For example, if we know that set S is made up of 5 consecutive multiples of 7, we can calculate SD even though the set could be {7, 14, 21, 28, 35} or {21, 28, 35, 42, 49} (or lots and lots of other things).
(4) You may be told the value of 1 SD and asked which numbers in a set fall inside (or outside) of a certain range.