Variance is used to add standard deviations when comparing two samples or populations.
Variance is simply Std^2.
The formula for obtaining Std is dependent on the type of sample taken\ hypothesis test performed i.e. 2-proportion pop/sample, single proportion, poussin, binomial, etc.
Yes.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
Yes, sigma squared (σ²) represents the variance of a population in statistics. Variance measures the dispersion of a set of values around their mean, and it is calculated as the average of the squared differences from the mean. In summary, σ² is simply the symbol used to denote variance in statistical formulas.
The lognormal distribution, probably.
variance
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.
Better for what? Standard deviation is used for some calculatoins, variance for others.
Yes.
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.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
Efficiency variance can be a good metric because it measures how efficiently inputs were used to produce output.
price and quantity variance
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.
Yes, sigma squared (σ²) represents the variance of a population in statistics. Variance measures the dispersion of a set of values around their mean, and it is calculated as the average of the squared differences from the mean. In summary, σ² is simply the symbol used to denote variance in statistical formulas.
efficiency variance, spending variance, production volume variance, variable and fixed components
variance
The lognormal distribution, probably.