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In statistics what would you call the conclusions drawn about a population?
INFERENCES Any calculated number from a sample from the population is called a 'statistic', such as the mean or the variance.
What is difference between the amount budgeted and the actual amount is called?
Difference between actual amount and budgeted amount is called "Variance" and variance analysis is done to find out the reasons for variance
What is the square of the standard deviation called?
The square of the standard deviation is called the variance. That is because the standard deviation is defined as the square root of the variance.
What is the square root of the variance called?
Standard deviation
Define error variance-?
The error in which a particular numbers are set apart is called error variance.
What type of variance is excess usage?
Since actual usage of the direct material was greater than the standard allowed, the excess usage is called an unfavorable variance
Any variance in the orbit of a body from its predicted path is called?
Perturbation.
The percent variance in Y explained by variability in X is called the?
r2, the coefficient of determination
What is the definition of standard deviation and variance?
The set of X1, X2, ..., XN is called X. Given that mean(X), is the sum of all X divided by N, the variance of X is mean((Xi - mean(X))2). The standard deviation of X is the square root of the variance.
What is a field in a database that contains formulas or functions in Excel?
In a database a field with a formula is called a calculated field. A calculated field should actually be in a table, as it can be calculated from data in other fields in the table, so it normally only appears in queries, reports and forms. In a spreadsheet it would just be a calculation.
Why variance is bigger than standard deviation?
The variance is standard deviation squared, or, in other terms, the standard deviation is the square root of the variance. In many cases, this means that the variance is bigger than the standard deviation - but not always, it depends on the specific values.
How would you describe a variance?
A commonly used method is to determine the difference between what was allowed by standard costs, which are the budget allowances, and what was actually spent for the output achieved. This difference is called a variance.
