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What do the variance and the standard deviation measure?

They are measures of the spread of distributions about their mean.


If the sample variance increases the estimated standard error will also increase?

true


The variance which measures the deviation of the rate actually paid to labor as from the standard hourly rate is known as?

Labour rate variance .


Will a large sample size and a small sample variance produce the largest value for the estimated standard error?

no


What are the common measures of dispersion?

Range, standard deviation, variance, root mean square, interquartile range


Why we calculate the variance and standard deviation?

They are measures of the spread of the data and constitute one of the key descriptive statistics.


What is the relationship between standard deviation and variance?

Standard deviation is the square root of the variance.


What is a Measure of spread about the mean?

Standard error, standard deviation, variance, range, inter-quartile range as well as measures based on other percentiles.


What do you mean by measures of central tendency and dispersion?

Common measures of central tendency are the mean, median, mode. Common measures of dispersion are range, interquartile range, variance, standard deviation.


Which of the following samples will produce the largest value for the estimated standard error?

A small sample size and a large sample variance.


How is standard costing variance interrelated?

http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/


Standard Costing Vs Variance Analysis?

standard costing and variance analysis