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Is mean used to describe the variance of data?
Yes.
What difference between a favorable variance and an unfavorable variance?
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
What is Disribution used in estimating population variance?
The lognormal distribution, probably.
What SPSS procedures can be used for data screening of categorical variables?
variance
How is variance used to measure risk?
In finance, risk of investments may be measured by calculating the variance and standard deviation of the distribution of returns on those investments. Variance measures how far in either direction the amount of the returns may deviate from the mean.
What are the primary sources of lessons learned?
Team meetings, Project status reports, third parties, quality variance reports, item tracking, and observation
Variance in the rhythm of your heart?
It is the variance in time between each heartbeat. ECG, and blood pressure tests are often used to measure the variance in the rhythm of the heart.
What is inventory variance?
An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.
What is inventory variance report?
An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.
Why is standard deviation better than variance?
Better for what? Standard deviation is used for some calculatoins, variance for others.
Is mean used to describe the variance of data?
Yes.
What use is variance analysis to businesses?
Variance analysis is something used primarily by small businesses. It is a method used by managers of small businesses to improve the performance of their companies.
What variance is best for measuring operating performance?
Efficiency variance can be a good metric because it measures how efficiently inputs were used to produce output.
Standard costs are used to measure?
price and quantity variance
What difference between a favorable variance and an unfavorable variance?
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
What tools are available to the project manager to use in controlling a project?
Some of the tools available to PM's to use in controlling a project are: Benchmarking, Critical Ratio Charts, Exception Reports, Gantt Charts, Status Reports, Trend Projections and Variance Analysis.
What is the difference between negative price variance and volume variance?
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.
