what is more desirable positive or negative variance
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What is a positive or negative variance of a budget? The Project Management Institute, however, endorses the accepted convention that a negative variance is a bad thing, and a positive variance a good thing. A variance is the difference between the projected budget and the actual performance for a particular account. A negative variance means that the budgeted amount was greater than the actual amount spent. A positive variance means that the budgeted amount was less than the actual amount spent. Note there is some debate over whether a negative variance means an underrun or an overrun.
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Variance Variance is non-negative because the squares are positive or zero. The variance of a constant random variable is zero, and if the variance of a variable in a data set is 0, then all the entries have the same value. Variance is invariant with respect to changes in a location parameter.That is, if a constant is added to all values of the variable, the variance is unchanged.ere Cov(⋅, ⋅) is the covariance, which is zero for independent random variables (if it exists). The formula states that the variance of a sum is equal to the sum of all elements in the covariance matrix of the components.
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NOTIFIABLE DISEASES Specificity refers to noncases not being reported as cases. Predictive value positive is the proportion of reported cases that truly are cases. A flexible system can adapt to changes in disease occurrence, or in changes in the reporting system, and still continue to function.
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- Any CAC that is lower than the LTV, I believe, is marginally net positive to the business. It does not vary from business to business.
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- The TrianguLar Di~tribution and from the relation pa = Var(X) = E[X2] - E2[x] we have Byond Beta (1.15) Hence, the variance attains its minimum 3/72 at 6 = 1/2 and its maximum 1/18 at 6 = 0 or 6 = 1. Recall that the variance of a standard uniform distribution is much larger and equal to 1/12.
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Contents: Standard Deviation vs Variance A variance or standard deviation of zero indicates that all the values are identical. Variance is the mean of the squares of the deviations (i.e., difference in values from the mean), and the standard deviation is the square root of that variance.Standard deviation is used to identify outliers in the data.ariance is the mean of the squares of the deviations (i.e., difference in values from the mean), and the standard deviation is the square root of that variance.
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- As explained in the last chapter, when actual costs and standard costs differ, the difference is a cost variance. A cost variance can be either favorable or unfavorable. A favorable cost variance results when actual costs are less than standard costs.
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- A positive sign for the first two interaction variables would imply that the productivity-growth impact of NRD and YE is larger in small states, and similarly, a positive sign for NRD*YE*S 3 would imply that the impact of NRD*YE is larger in small states.
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- A test with a higher specificity will usually sacrifice sensitivity by increasing its false-negative rate. This makes a highly sensitive test ideal for a screening examination. While, highly specific tests are best in a confirmatory role.
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Chapter 8 Has a value of 0, it is equal to the group mean. Is positive, it is above the group mean. Is negative, it is below the group mean. Is equal to +1, it is 1 Standard Deviation above the mean. Is equal to +2, it is 2 Standard Deviations above the mean. Is equal to -1, it is 1 Standard Deviation below the mean. Is equal to -2, it is 2 Standard Deviations below the mean.
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What is 'Unfavorable Variance' Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or expected costs. Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or expected costs. An unfavorable variance can alert management that the company's profit will be less than expected. The sooner an unfavorable variance is detected, the sooner attention can be directed towards fixing any problems.
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Direct Labor Rate Variance A favorable labor rate variance suggests cost efficient employment of direct labor by the organization. Reasons for a favorable labor rate variance may include: Hiring of more un-skilled or semi-skilled labor (this may adversely impact labor efficiency variance) Decrease in the overall wage rates in the market due to an increase in the supply of labor which may be caused, for example, due to the influx of immigrants as a result of the relaxation of immigration policy
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Cost Variance fields Remarks If the cost variance is negative, the cost for the assignment is currently under the budgeted, or baseline, amount. If the cost variance is positive, the cost for the assignment is currently over budget. When the assignment is complete, this field shows the difference between baseline costs and actual costs.
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Ch. 5 Statistical Measurement Tools In the investing world, the coefficient of variation allows you to determine how much volatility (risk) you are assuming in comparison to the amount of return you can expect from your investment. In simple language, the lower the ratio of standard deviation to mean return, the better your risk-return tradeoff. Note that if the expected return in the denominator of the calculation is negative or zero, the ratio will not make sense.
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Variance Loss If the actual profit/income is lesser than the standard profit/income there would be a loss. The variance would be positive if Actual profit/income < Standard profit/income. Gain If the actual profit/income is greater than the standard profit/income there would be a gain.
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- Advantages and Disadvantages of the variance Advantages:- Takes all data into account.- Lends itself to computation of other stable measures (and is a prerequisite for many of them)Disadvantages:- Hard to interpret.- Unit is squared-Can be influenced by extreme scores.dvantages and Disadvantages of the variance Advantages:- Takes all data into account.- Lends itself to computation of other stable measures (and is a prerequisite for many of them)Disadvantages:- Hard to interpret.- Unit is squared-Can be influenced by extreme scores.
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- Given the same population frequency, derived alleles are more likely to be risk associated than ancestral alleles, as are rarer alleles. The common interpretation of this association is that negative selection prevents fixation of the risk variants.
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- A materials price variance is favorable if the actual price exceeds the standard price. Level: Easy LO: 2 Ans: F. 6. An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual output of the period. Level: Easy LO: 2 Ans: F.
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- To calculate the negative predictive value (NPV), divide TN by (TN+FN). In the case above, that would be 810/(810+5)= 99.4%. The negative predictive value tells us how likely someone is to not have the characteristic if the test is negative.
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- A small variance indicates that the data points tend to be very close to the mean, and to each other. A high variance indicates that the data points are very spread out from the mean, and from one another. Variance is the average of the squared distances from each point to the mean. The process of finding the variance is very similar to finding the MAD, mean absolute deviation. The only difference is the squaring of the distances. Process: (1) Find the mean (average) of the set.
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Standard Costing (Explanation) If actual costs are greater than standard costs the variance is unfavorable. An unfavorable variance tells management that if everything else stays constant the company's actual profit will be less than planned. If actual costs are less than standard costs the variance is favorable.
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- The variance of the mean of the clustered sample is bigger by a factor [1 + (n – 1)ρ], which is sometimes called the sample design effect (Kish 1965) or, more descriptively, the variance inflation factor.
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The Importance of Revenue Variances A favorable or unfavorable revenue variance occurs if the actual selling price is greater or less than the budgeted selling price, respectively.
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Accounting Chp 9 A revenue variance is the difference between how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. A revenue variance is easy to interpret. A favorable revenue variance occurs because the revenue is greater than expected for the actual level of activity. An unfavorable revenue variance occurs because the revenue is less than expected for the actual level of activity.
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Using Earned Value to Predict Your Projectâs Success The Schedule Variance (SV) determines whether a project is ahead of or behind schedule. It is calculated by subtracting the Planned Value (PV) from the Earned Value (EV). A positive value indicates a favorable condition and a negative value indicates an unfavorable condition.he Schedule Variance can be expressed as a percentage by dividing the Schedule Variance (SV) by the Planned Value (PV). In other words, the project is 33 percent behind schedule, meaning that 33 percent of the planned work has not been accomplished.
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- Negative personality traits provided more threatening information [ 12 ] when compared to negative physical characteristics, but responses to negative physical characteristics were faster compared to negative personality traits.