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Sigma notation, often referred to as summation notation, can be used in many common situations. For example, it can be used to calculate the sum of deposits for a bank account. Banks add together all deposits and withdrawals to determine the current balance.
The symbol they use for standard deviation is the lower-case Greek letter sigma . For any process with a standard distribution (something that looks like a bell-shaped curve), the probability is 68.26%. that the next value will be within one standard deviation from the mean. The probability is 95.44% that the same next. value will fall within two standard deviations. The probability is 99.73% that it will be within three sigma; and 99.994%.