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.
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.
Efficiency variance can be a good metric because it measures how efficiently inputs were used to produce output.
price and quantity variance
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.
efficiency variance, spending variance, production volume variance, variable and fixed components
The lognormal distribution, probably.
variance
false- it is best to isolate them once you know how much of the material has been used. If you don't know how much is used, you can't get a variance to evaluate efficiency of how materials were used.