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Earn +20 ptsQ: Symbol for population variance
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What does it mean to say that the sample variance provides an unbiased estimate of the population variance?
It means you can take a measure of the variance of the sample and expect that result to be consistent for the entire population, and the sample is a valid representation for/of the population and does not influence that measure of the population.
What are the variances in a 4 variance analysis?
efficiency variance, spending variance, production volume variance, variable and fixed components
From a population with a variance of 900 a sample of 225 items is selected At 95 percent confidence the margin of error is?
3.92
Which is not a measure of dispersion range or variance?
Variance
Can the Variance ever be smaller than standard deviation?
Yes. If the variance is less than 1, the standard deviation will be greater that the variance. For example, if the variance is 0.5, the standard deviation is sqrt(0.5) or 0.707.
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