what is ss in statistics

In statistics, SS stands for "sum of squares," which is a measure of deviation from the mean. It is calculated by adding together the squared differences between each data point and the mean of the data set. The sum of squares is an important term in statistics, as it gives rise to variance and standard deviation. There are different types of sum of squares, such as residual sum of squares (RSS) and regression sum of squares (SSR), which are used in different statistical analyses. The sum of squares is used to determine how well a regression model fits the data set, with a smaller sum of squares indicating a better fit. It can also be used to measure market stability, with a smaller sum of squares indicating less deviation from the mean and greater stability.