variance

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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 ?
The usual sample variance estimator in ACS performed better as compare with the proposed estimators (Eq.) and (Eq.).
If the sample variance is unbiased, then approximately half of the estimates will exceed the true variance and, therefore, the planning variance, leading to achieved precision larger than planned precision.
(2) For each sensor, on the basis of taking other sensors in the same cluster as neighboring sensors, sample mean [bar.d ([x.sub.u], [x.sub.vj])] and sample variance [s.sup.2] (d ([x.sub.u], [x.sub.vj])) of the data vector distance between it and each nearest neighboring monitoring point [v.sub.j] are obtained.
On the other hand, Kieser and Wassmer (1996), and Julious and Owen (2006) suggested an alternative approach to accommodate the variability of sample variance for sample size determination.
[s.sup.2] = sample variance calculated from the existing available data
Basic statistics for the frequency of ratios of soluble and exchangeable [K.sup.+]/[Na.sup.+] graphed linearly (columns 1 and 2) and semi-logarithmically (columns 3 and 4) Maxima and minima can be inferred from Figs 1 and 2 [[K.sup.+]]/ (ex[K.sup.+]/ [[Na.sup.+]] ex[Na.sup.+]) Mean 4.37 23.497 Standard error 0.425 2.023 Median 1.333 7.485 Sample variance 78.139 1824.516 Sample number 433 446 [log.sub.10] [log.sub.10] [[K.sup.+]]/ (ex[K.sup.+]/ [[Na.sup.+]] ex[Na.sup.+]) Mean 0.069 0.750 Standard error 0.037 0.041 Median 0.125 0.874 Sample variance 0.660 0.751 Sample number 433 446
Shrinkage estimators are "weighted averages" of a "prior" estimator, which in this case is an estimator of the mean of all levels (0 and [alpha]), combined with the data on a particular level in the form of either of the sample mean of level i, [x.sub.i], or the natural logarithm of the sample variance, ln([s.sup.2.sub.i]).
Appended are: (1) NHES: 2003 Screener, Parent and Family Involvement in Education Questionnaire, and Adult Education for Work-Related Reasons Questionnaire; and (2) Summary of Weighting and Sample Variance Estimation Variables.
These extend the range of a dose-response curve but can obscure sample variance, leading to inaccurate results of dose interpolation.
Fourier-transform infrared spectroscopy is used to help determine the normalized sample variance, a quantitative measure of mixing.
[S.sub.t] is derived from a variance estimator, the sum of the sample variance plus a weighted sum of the autocovariance terms for a specified truncation lag value (q) as follows:
The sample variance, as presented in equation 6.17, is an unbiased estimator of [[sigma].sup.2] and the