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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Yes.
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
The lognormal distribution, probably.
variance
In finance, risk of investments may be measured by calculating the variance and standard deviation of the distribution of returns on those investments. Variance measures how far in either direction the amount of the returns may deviate from the mean.