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A variance is a deviation from the town code. Example: Homeowner 1 applied for an area variance for side yard setback for a proposed shed. Meaning the homeowner was required by code to place the shed 20' from his side property line but is asking the Zoning Board to place it 5' from the side property line.

Q: What is a Variance and how do you use variance into a sentence?

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Favourable variance is that variance which is good for business while unfavourable variance is bad for business

Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.

efficiency variance, spending variance, production volume variance, variable and fixed components

There are 7 variances associated with a budget ( which are generally calculated for controlling purposes) 1- Material Price variance 2- Material Quantity variance 3- Labor rate variance 4- Labor efficiency variance 5- Spending variance 6- Efficiency variance 7- Capacity variance

Variance

Unequal in Variance

Equal in Variance

Since Variance is the average of the squared distanced from the mean, Variance must be a non negative number.

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.

Pooled variance is a method for estimating variance given several different samples taken in different circumstances where the mean may vary between samples but the true variance (equivalently, precision) is assumed to remain the same. A combined variance is a method for estimating variance from several samples, given the size, mean and standard deviation of each. Mathematically, a combined variance is equal to the calculated variance of the set of the data from all samples. See links.

Yes. If the variance is less than 1, the standard deviation will be greater that the variance. For example, if the variance is 0.5, the standard deviation is sqrt(0.5) or 0.707.

Hardeo Sahai has written: 'Analysis of variance for random models' -- subject- s -: Analysis of variance 'The analysis of variance' -- subject- s -: Analysis of variance