Merits of Standard Deviation:
Among all measures of dispersion Standard Deviation is considered superior because it possesses almost all the requisite characteristics of a good measure of dispersion. It has the following merits:
1) It is rigidly defined.
2) It is based on all the observations of the series and hence it is representative.
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3) It is amenable to further algebraic treatment.
4) It is least affected by fluctuations of sampling.
Demerits:
1) It is more affected by extreme items.
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2) It cannot be exactly calculated for a distribution with open-ended classes.
3) It is relatively difficult to calculate and understand.