Variance is a statistical measurement that describes the spread of a set of numbers and is often represented by the symbol σ 2. Sample variance is used to measure the spread of the data points in a given data set around the mean. Variance · Work out the Mean (the simple average of the numbers) · Then for each number: subtract the Mean and square the result (the squared difference). · Then. Variance is the difference between planned and actual numbers (both expenses and revenue). A change to the norm is called a variance. It suggests a difference or shifting away from the expected or usual, an example being snow in July.

This is a different definition of variance compared to statistics where variance is defined as the squared deviation from the mean! You need to understand. Learn about variance and how to calculate it, review the advantages and disadvantages of using variance calculations and examine an example of data. **1. The fact, quality, or state of being variable or variant: difference, variation. Yearly variance in crops. 2. The fact or state of being in disagreement.** disagreeing with or opposing someone or something These conclusions are totally at variance with the evidence. He uttered a string of oaths. Sample variance is used to determine how spread apart the numbers in a set of data are. It is used only with the sample of data points, not the entire. variance. VA'RIANCE, n. See Vary. 1. In law, an alteration of something formerly laid in a writ; or a difference between a declaration and a writ, or the deed. noun · the state, quality, or fact of being variable, divergent, different, or anomalous. · an instance of varying; difference; discrepancy. · Also called mean. The meaning of variance is the difference between how much product is sold and how much product is used or lost. Variance and Standard deviation are utilised to measure the spread of the data set. Learn definitions, properties, formulas, relation along with the solved. VARIANCE meaning: 1: an amount of difference or change; 2: an official decision or document that allows someone to do something that is not usually.

Understanding the definition · variance is always positive because it is the expected value of a squared number; · the variance of a constant variable X (i.e. **Variance is a measurement of the spread between numbers in a data set. Investors use the variance equation to evaluate a portfolio's asset allocation. Variance is a measure of dispersion that is used to check the spread of numbers in a given set of observations with respect to the mean.** What is Variance? Variance is the expected value of the squared deviation of a random variable from its mean. In short, it is the measurement of the distance of. Variance is a statistical measurement used to determine how far each number is from the mean and from every other number in the set. You can calculate the. The meaning of variance is the difference between how much product is sold and how much product is used or lost. Definition. The variance defines a measure of the spread or dispersion within a set of data. There are two types: the population variance, usually denoted by σ. Definition of Variance - learn everything about Variance with our statistics glossary! The variance in statistics is the average squared distance between the data points and the mean. Because it uses squared units rather than the natural data.

The variance is a measurable change from a known standard or baseline. In simple terms, it is the difference between what was expected and what really happened. Variance is the expected value of the squared variation of a random variable from its mean value, in probability and statistics. Variance refers to the expected deviation between values in a specific data set. It measures the spread of each figure from the average value. Variance. Definition. The variance provides a measure of spread or dispersion of a population. It is computed as the average of the squared deviations of. Variance is the average of the squared differences, also known as standard deviation, from the mean. Simply put, the variance is a statistical measure of how.

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