variance definition
552c1432d8ab8127128a40fdf8863c97
- Statistics and Probability Dictionary. Select a term from the dropdown text box. The online statistics glossary will display a definition, plus links to other related web pages. Select term: Variance. The variance is a numerical value used to indicate how widely individuals in a group vary. If individual observations vary greatly from the group mean, the variance is big; and vice versa. It is important to distinguish between the variance of a population and the variance of a sample.
3d6d495b5450ed026e3b6fa957342458
What is 'Variance' Variance is a measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the mean. Variance is calculated by taking the differences between each number in the set and the mean, squaring the differences (to make them positive) and dividing the sum of the squares by the number of values in the set. X: individual data point. u: mean of data points.
2c3b99ec0d19770612c53ba544864bd7
Statistics Chapter 3 The variance is a measure of the variability of dispersion of the data. It is given by calculating and squaring the differences between the values and the mean, and calculating the average (mean) of those values. - How far, on average, each observation is from the mean.
04ddddf90138199097925793eb0528c1
Accounting Chp 9 spending variance. The difference between how much a cost should have been, given the actual level of activity, and the actual amount of the cost. - A favorable (unfavorable) spending variance occurs because the cost is lower (higher) than expected, given the actual level of activity for the period.
25683457832f3ed668ebb6fc3cfe4e33
Glossary A statistical measure of the variance of two random variables that are observed or measured in the same mean time period. This measure is equal to the product of the deviations of corresponding values of the two variables from their respective means.
321074a6a70ddafc89f80e703d52f2ad
Variance Definition of Variance. Variance is a statistical measure that tells us how measured data vary from the average value of the set of data. In other words, variance is the mean of the squares of the deviations from the arithmetic mean of a data set.
04e327ba1530c4e5c4bcba7ecfcea10b
- Variance (Standard Deviation): σ2 (σ) Variance is a measure of the dispersion in outcomes around the expected value. It is used as an indication of the risk inherent in the security. Standard deviation is the square root of variance. The expected return is subtracted from the return within each state of nature; this difference is then squared.
caf870071182b1d85af74d750e7a92ba
deviation 1. deviation-a variation that deviates from the standard or norm; the deviation from the mean. departure, difference, divergence. variation, fluctuation-an instance of change; the rate or magnitude of change. variance, variant, discrepancy-an event that departs from expectations.eviation. n. 1. an act or result of deviating. 2. (Statistics) statistics the difference between an observed value in a series of such values and their arithmetic mean.
d024f46aaf7533602bf16bc0adb67e57
Variance Definition Edit. If μ = E(X) is the expected value (mean) of the random variable X, then the variance is. That is, it is the expected value of the square of the deviation of X from its own mean.
584b520ef9bc142eb4d90d52e4d780a6
Variance The variance is the square of the standard deviation, the second central moment of a distribution, and the covariance of the random variable with itself, and it is often represented by σ 2 {\displaystyle \sigma ^{2}} or Var ⁡ ( X ) {\displaystyle \operatorname {Var} (X)} .
a25053e689d60324a468989da0b20ec5
The Neighbors Are Watching Via Surveillance Video And we'll see that the sigma letter actually is the symbol for standard deviation. And that is for a reason. But anyway, the definition of a variance is you literally take each of these data points, find the difference between those data points and your mean, square them, and then take the average of those squares.
5b36d9dc301e3bd41dfb1aa0fe21a489
Standard Deviation and Variance Variance. The Variance is defined as: The average of the squared differences from the Mean. To calculate the variance follow these steps: 1  Work out the Mean (the simple average of the numbers). 2  Then for each number: subtract the Mean and square the result (the squared difference).3  Then work out the average of those squared differences.o calculate the variance follow these steps: 1  Work out the Mean (the simple average of the numbers). 2  Then for each number: subtract the Mean and square the result (the squared difference). 3  Then work out the average of those squared differences.
ce187c703453f4aabfd571a3284632f2
variance A variance is an exception to one or more of the zoning restrictions on a piece of property. A variance is different from a nonconforming use, which permits existing structures and uses to continue when zoning is first instituted.
8d186ff10a384988471189c05b5c83f6
variance variance. A statistical measure of the variability of measured datum from the average value of the set of data. A high variance, indicating relatively great variability, also indicates that the average is of minimal use in projecting future values for the data. Standard deviation is the square root of variance.
29fcd9675fd9ad41b74204835b3ad5eb
variance A measure of the variability in a sample or population, which is calculated as the mean squared deviation (MSD) of the individual values from their common mean. In calculating the MSD, the divisor n is commonly used for a population variance and the divisor n-1 for a sample variance.ne of the measures of the dispersion of data; the mean squared deviation of a set of values from the mean. additive genetic variance. that portion of phenotypic variance which is due to the additive effect of genes (V A).
54c3a8020221b204295fea9e8fba8787
Variance & Standard Deviation Both the variance and the standard deviation meet these three criteria for normally-distributed (symmetric, bell-curve) data sets. The variance (σ2) is a measure of how far each value in the data set is from the mean. Here is how it is defined: 1  Subtract the mean from each value in the data. 2  This gives you a measure of the distance of each value from the mean.
0367445df72f15af7163dccd1fb4e203
Direct materials price variance In managerial accounting, variance means deviation of actual costs from standard costs. Materials price variance is the result of deviation of actual price paid for materials from what has been set as standard. Direct materials price and quantity standards are set after keeping in mind the current market prices and anticipated changes in materials prices in near future.
42343b3b55baf55a8d472bc386c69a94
- Standard Cost Variances. A variance is the difference between the actual cost incurred and the standard cost against which it is measured. A variance can also be used to measure the difference between actual and expected sales. Thus, variance analysis can be used to review the performance of both revenue and expenses. variance is the difference between the actual cost incurred and the standard cost against which it is measured. A variance can also be used to measure the difference between actual and expected sales.
27206159fe4b37ee04202ffdd8d9393d
What is variance analysis? What is variance analysis? In accounting, a variance is the difference between an expected or planned amount and an actual amount. For example, a variance can occur for items contained in a department's expense report. Variance analysis attempts to identify and explain the reasons for the difference between a budgeted amount and an actual amount. Variance analysis is usually associated with a manufacturer's product costs.
49b56b33880fc5a01af4881daea91550
What is 'Variance' Variance is a measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the mean. Variance is calculated by taking the differences between each number in the set and the mean, squaring the differences (to make them positive) and dividing the sum of the squares by the number of values in the set.
1e8d370d1665f4292f502f4ddd872a63
Expected Return, Variance And Standard Deviation Of A Portfolio Variance. Variance (σ 2) is a measure of the dispersion of a set of data points around their mean value. In other words, variance is a mathematical expectation of the average squared deviations from the mean. It is computed by finding the probability-weighted average of squared deviations from the expected value. Variance measures the variability from an average (volatility).
62746eef01e5d47ec10247409b1d15a0
Variance For a single variate having a distribution with known population mean , the population variance , commonly also written , is defined as. (1) where is the population mean and denotes the expectation value of . For a discrete distribution with possible values of , the population variance is therefore. (2) whereas for a continuous distribution, it is given by. (3) The variance is therefore equal to the second central moment .
7740238feb929d04f3c41fbb73e0dcc9
How do you calculate variance in Excel? Explaining Variance Variance is a measurement of the spread between numbers in a data set. Improve Your Investing With Excel Excel is a useful tool to assist with investment organization and evaluation. Find out how to use it.
0852b5c07a02f818f95eef2d366b45bc
- DEFINITION of 'Variance'. A measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the mean.
8ea9645a223642b036063e8fbd95f594
- A variance in accounting tells you how much a business result varied from another value, such as a budgeted, target or expected amount. For example, if you budgeted $500 for postage and spent $600, the variance is $100, and it might be explained by an unanticipated increase in postage rates.
2430f51d08e80977d93fb253e2e6e63a
Variance In probability and statistics, the variance of a random variable is the average value of the square distance from the mean value. It represents the how the random variable is distributed near the mean value. Small variance indicates that the random variable is distributed near the mean value.