Im taking undergraduate stats/prob now (3-5-10) and want to help you but i am only at normal distribution for continuous random variables right now. Does the linear combination imply/use linear algebra (matricies and linear transformations)?
how to calculate budget variance percentage?
variance - covariance - how to calculate and its uses
No, they do not.
The unaccounted for variance aka Error Variance, is the amount of variance of the dependent variable (DV) that is not accounted for by the main effects/independent variables (IV) and their interactions.
actual budget/budget = variance%
The mean deviation for any distribution is always 0 and so conveys no information whatsoever. The standard deviation is the square root of the variance. The variance of a set of values is the sum of the probability of each value multiplied by the square of its difference from the mean for the set. A simpler way to calculate the variance is Expected value of squares - Square of Expected value.
Variance = 100*(Actual - Budget)/Budget
Square the standard deviation and you will have the variance.
How do we calculate variance
Is the result of unsystematic differences among participants; that portion of the total variance in a set of data that remains unaccounted for a systematic variance is removed; variance that is unrelated to the variables under investigation in a study.
You cannot prove it because it is not true.The expected value of the sample variance is the population variance but that is not the same as the two measures being the same.
Standard deviation = square root of variance.