machine breakdown, non ability material, illness
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The variance in the morphology and behavior of males and females.
Mean = 2. Variance = 1.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
Divide the total number of incidents by the total time. The result, representing the average number of incidents per unit of time, is the mean as well as the variance of the Poisson distribution.
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