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 ?
Boasiako, Public Relations Manager of TOR, for a better explanation on the wobbling state of the facility, as described by the 2019 Variance Report, went unanswered.
Regarding the risk and audit budget variances, Mr Goya said there was no budget for year 2016/2017.
[the] Church's requested variance and the denial of the [C]hurch's appeal was arbitrary, capricious, illegal, unconstitutional and void because each was unsupported by the competent and substantial evidence upon the record as a whole and contrary to law.'" (36) The day before the trial court rendered its judgment, the Church filed a supplemental petition against Kansas City for a declaratory judgment that the sign Code was unconstitutional.
Employee variance measures if you're using your workforce in accordance with your expectations.
Different models were compared by the Restricted Maximum Likelihood (REML) form of the Akaike information criterion (AIC) (Akaike, 1974), by inspecting the variance component and genetic parameter estimates.
Analysis of PISA (OECD, 2016) gives some recent results for 2015 for a sample of UK schools with the variance in science performance between schools estimated as around 22 per cent of total variance in pupil science performance.
Combining the definition of (3), it can be seen that the confidence of Allan variance estimation improves as the number K of independent clusters increases or the averaging time t decreases.
The covariance matrix of random regression coefficients for additive genetic and permanent environmental effects with the percentage of variance explained by eigenvalues associated with RRM matrix for these effects in the LE33het10 model are presented in Table 4.
In a Monte Carlo study, Kadlec (1999) compares the empirical variance of d' obtained in the simulation with those calculated using the method of Gourevitch and Galanter.
The objectivewas to approximate the variance of population (EQUATION) with the source of a random sample of sizen, drawn from the population.
Portfolio Variance = [WEIGHT SQUARED OF ASSET 1] * [VARIANCE OF ASSET 1] +