Favourable variance is that variance which is good for business while unfavourable variance is bad for business
A budget "variance" is the difference between planned and actual performance.
The SD is the (positive) square root of the 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.
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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.
ANOVA characterises between group variations, exclusively to treatment. In contrast, ANCOVA divides between group variations to treatment and covariate. ANOVA exhibits within group variations, particularly to individual differences.
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.
To figure the variance on a group of numbers, you must first figure out the mean, which is the average of the set. Then, substract the mean from each number in the set. Square the result of those substractions, and then average the squares. You will then have the variance.
A budget "variance" is the difference between planned and actual performance.
A budget "variance" is the difference between planned and actual performance.
The standard deviation is defined as the square root of the variance, so the variance is the same as the squared standard deviation.
Standard deviation is the square root of the variance.
) Distinguish clearly between analysis of variance and analysis of covariance.
Yes
The SD is the (positive) square root of the variance.