What can we obtain From Sample Variance?

Answer 1

The sample variance provides the amount of variation of the data about the mean. The lower this number, the more concentrated the data is about the mean. Thus, its magnitude indicates how much the data varies based on which data point you are referring to.

Answer 2

You can calculate your standard deviation (square root of the variance) to get an idea of how your data is spread around a value. However, this is not the only factor that will tell you the spread and I think you may need the mean as well. A spread of 2 is relatively small if you mean is 8, but a spread of 2 is huge if your mean is 0.1....