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Variance should be investigated when there are significant deviations from expected performance or budgeted figures, as these discrepancies can indicate underlying issues that need attention. It's particularly important to analyze variance in financial statements, project management, and operational metrics to ensure that resources are being used efficiently and goals are being met. Additionally, investigating variance can help identify trends or patterns that may inform future decision-making. Early detection and analysis can prevent larger problems down the line.
What else can I help you with?
When the null hypothesis is true the ratio of the between groups population variance estimate to the within groups population variance estimate should be about?
1
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
How do you calculate total material variance?
Total material variance is calculated by comparing the actual cost of materials used to the standard cost of materials that should have been used for the actual production level. The formula is: Total Material Variance = (Actual Quantity x Actual Price) - (Standard Quantity x Standard Price). This variance can be further broken down into material price variance and material quantity variance for more detailed analysis.
What factors causes Budget Variance?
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
What is Assumptions for Variance Homogeneous?
Equal in Variance
What types of accident should be investigated?
All accident should be investigated.
The variances that should be investigated by management include?
should all variances be investigated
What actions should be taken as a result of stock variances?
Variance should be recorded Stock of Goods Dr. Opening Closing stock variance Cr.
What type of accidents should be investigated?
Fire
What type's of accidents should be investigated?
Fire
What type of accident should be investigated?
all accidents
What types of military accidents should be investigated?
all.
What types of investigations should be investigated?
All types of accidents should be investigated in order that they can eventually be prevented. Certainly any accident that involves injury or destruction of property should be evaluated for cause.
When the null hypothesis is true the ratio of the between groups population variance estimate to the within groups population variance estimate should be about?
1
What types of army accidents should be investigated?
All accidents
What type of investigation should be investigated?
The ones with aliens involved
What type of accidnets should be investigated?
The ones with aliens involved
