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How is standard deviation found?
Formally, the standard deviation is the square root of the variance. The variance is the mean of the squares of the difference between each observation and their mean value. An easier to remember form for variance is: the mean of the squares minus the square of the mean.
What is a difference between a pooled variance and a combined variance?
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.
Relation between mean and standard deviation?
Standard deviation is the variance from the mean of the data.
What do you mean by labor cost variance?
Labor cost variance means the difference between standard labor cost and actual labor cost.
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 are the similarities between A.O.V and ANOVA?
They are the same.AOV = Analysis of VarianceANOVA = Analysis of Variance.
How is standard deviation found?
Formally, the standard deviation is the square root of the variance. The variance is the mean of the squares of the difference between each observation and their mean value. An easier to remember form for variance is: the mean of the squares minus the square of the mean.
What is a difference between a pooled variance and a combined variance?
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.
Relation between mean and standard deviation?
Standard deviation is the variance from the mean of the data.
What do you mean by labor cost variance?
Labor cost variance means the difference between standard labor cost and actual labor cost.
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 will happen if the difference between scores and the mean decreases?
The variance and the standard deviation will decrease.
What are the properties of z in a normal distribution?
Z is a variable with mean 0 and variance 1.Z is a variable with mean 0 and variance 1.Z is a variable with mean 0 and variance 1.Z is a variable with mean 0 and variance 1.
What is the different between standard normal distribution and normal distribution?
A normal distribution can have any value for its mean and any positive value for its variance. A standard normal distribution has mean 0 and variance 1.
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.
What does variance mean in mathematics?
A variance is a measure of how far a set of numbers is spread out around its mean.
What is the difference between variable overheads cost variance andfixed overheads cost variance?
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
