In reference to Inferential Statistics, If $\bar x$ is a sample mean of random data $\{x_i\}_{i=1}^n$ and $n$ is the sample size, then the formula $\frac{1}{n-1}\sum\limits_{i=0}^n(x_i-\bar x)^2$ represents

Variance

The correct answer is Option (2) → Variance

Given formula:

$\frac{1}{n-1} \sum_{i=1}^{n} (x_i - \bar{x})^2$

This is the definition of the sample variance of a dataset, which measures the average squared deviation of the observations from the sample mean, adjusted by dividing by $(n-1)$ for an unbiased estimate.