variance

(redirected from variances)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia.
Related to variances: standard deviation

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.

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.

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.

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.

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.

References in periodicals archive ?
Orders of polynomials for additive genetics (Ka), permanent environment (Kp), residual variances structures (hom or het), Log L, AIC, and BIC for different random regression model Polynomial order Model ka kp e Parameters Log L LE23hom 2 3 1 10 -425,013.
Our first conclusion is that, at least for the conditions simulated here, the expected values of both variances are indistinguishable for practical purposes: [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII].
The objectivewas to approximate the variance of population (EQUATION) with the source of a random sample of sizen, drawn from the population.
We don't know 'true' variance of any security; we don't know its 'true' correlation with other securities; and we certainly don't know the future return on those securities.
While students are told in class that many variances are actually zero in the workplace, there seems to always be a variance in the textbook (to show what does happen when a variance does occur).
THE RESULT ALLOWS 18 DAYS VARIANCE FROM THE SCHEDULED
Manufacturing companies typically report two measures related to capacity costs: the fixed overhead volume variance and fixed overhead spending variance.
1433585 TABLE 3 Independent Sample T-Test Independent Samples Test Levene's Test for Equality of Variances F Sig.
Employers can request a variance for many reasons, including not being able to fully comply on time with a new safety or health standard because of a shortage of personnel, materials, or equipment.
In order to obtain the genetic (co)variances between the years of birth, for the weight at 550 days, first it was performed the estimation of variance components of W550 of each generation of selection (5 years) and covariance of W550 between generations, using the software MTGSAM (Multiple Trait Gibbs Sampling in Animal Model), (VAN TASSEL; VAN VLECK, 1995), in a multitrait analysis, where the weight at 550 days was treated as four distinct traits according to the generation in which the animal was born, with