variance

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Related to Phenotypic variance: environmental variance, phenotypic variation

Variance

A measure of dispersion of a set of data points around their mean value. The mathematical expectation of the average squared deviations from the mean. The square root of the variance is the standard deviation.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Variance

1. In accounting, the difference between the estimated and actual cost of a project or other operation.

2. In risk, the average deviation of a set of data points from their mean.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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. Financial analysts use both statistical measures to weigh investment risk. Compare covariance. See also risk.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

variance

  1. the difference between budgeted and actual results (see BUDGETING), or between STANDARD COSTS/revenues and actual costs/revenues. Variances can be:
    1. adverse or negative when actual revenues fall short of budget or standard, or when actual costs exceed budget or standard;
    2. favourable or positive when actual revenues exceed budget or standard, or when actual costs are less than budget or standard.
    3. a measure of variation within a group of numerical observations, specifically the average of the squared deviations of the observations from the group AVERAGE.

      See STANDARD DEVIATION.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

variance

Permission to use a property in a manner that does not meet current zoning requirements.In order to gain a variance,the property owner usually has to show a hardship on the property—not on the owner—if the requested use is not allowed. It is considered a hardship if the property will otherwise remain vacant or if a structurally sound improvement must be demolished to allow some other use. Buyers with a signed purchase contract can usually petition for a variance; this is commonly one of the steps in a due diligence plan that must be completed in a satisfactory manner before the buyer will purchase property.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
This QTL had partial dominance to overdominance of gene action and accounted for 14-24% of the total phenotypic variance. The P.
1--In the estimate of the variance components, the results evidenced higher contribution of non-genetic effects ([[sigma].sup.2.sub.ng]) for the phenotypic variance ([[sigma].sup.2.sub.f]), compared to the solely genetic effects ([[sigma].sup.2.sub.g]), both for the character grain yield, and the character plant cycle.
Several authors have speculated that a significant fraction of the total phenotypic variance among a cohort of hatchling reptiles is engendered by incubation conditions rather than genetic factors (e.g., Vleck 1988, Packard 1991, Shine 1995, Shine and Harlow 1996).
Phenotypic variance explained (R2) value for these associations ranged from 33.95% to 64.29%.
The difference between genotypic variance (GCV) and phenotypic variance (PCV) for 100 seed weight, seed volume, hydration capacity and swelling index was little, indicating the minimum influence of the environment for its expression.
The QTL explained 7, 11, and 17% of the phenotypic variance for chromosomes 1 and 4, 2 and 5, and 3 and 6, respectively.
This largely accounts for the increase in the phenotypic variance seen here and may account for such increases previously noted in other studies on the effects of environmental extremes on morphological traits in Drosophila (Tantawy and Mallah 1961; David et al.
In the explicit genetic model presented here, however, no additional assumptions constraining the phenotypic variance were needed for displacement.
Where [h.sup.2] is heritability, [[sigma].sup.2.sub.A] is additive genetic variance and [[sigma].sup.2.sub.P] is phenotypic variance.
The pattern approximated for permanent environmental variance and phenotypic variance were regular and improved gradually during the path.
Overall, the WF.33_HE2, LEG.33_HE2, and LEG.55_HE4 models showed little difference in phenotypic variance partition in residual variance for permanent environment and genetic traits (Figure 1).