Variability
The degree of differences within a set of test scores or among the values of a psychological attribute. Mostly indexed with standard deviation and variance
Variance
Checking the deviation of the score from the mean.
(X - X-bar).
Then each deviation is squared to get the squared deviation (all added up forms sum of squares).
Then the mean of the squared deviation is calculated (dividing sum of squares with N), resulting in the variance (s2)
Standard deviation
Square root of the variance. It reflects the variability in terms of size of raw scores.
4 factors to consider the nature of variance and sd