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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.
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Is mean used to describe the variance of data?
Yes.
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
Is sigma square equal to variance?
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.
What is Disribution used in estimating population variance?
The lognormal distribution, probably.
What SPSS procedures can be used for data screening of categorical variables?
variance
