Define the following terms : (a) Environment (b) pollution
actual budget/budget = variance%
Square the standard deviation to obtain the variance. The variance is 62 or 36.
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
It is a biased estimator. S.R.S leads to a biased sample variance but i.i.d random sampling leads to a unbiased sample variance.
Explian DOE using Variance Analysis
df within
Yes it is.
Cisco has the largest marketshare especially for larger applications. For smaller applications Linksys is a predominate choice. anonymous@oola.com
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
When investigating a variance, consider the magnitude and direction of the variance to understand its significance. Analyze underlying data for accuracy and potential errors, and assess any changes in processes or external factors that may have influenced the results. Additionally, evaluate historical trends and performance benchmarks to contextualize the variance within a broader framework. Lastly, ensure that stakeholder input is gathered to provide insights and perspectives on the observed discrepancies.
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 most appropriate variance in a comprehensive performance report using the flexible budget concept for measuring operational efficiency is the "Efficiency Variance," often referred to as the "Usage Variance" or "Input Variance." This variance assesses the difference between the actual input used and the expected input based on the flexible budget for the actual level of activity. It highlights how well resources are utilized relative to what was budgeted, thereby providing insights into the effectiveness and efficiency of operations. Analyzing this variance helps identify areas for improvement in resource management and operational processes.
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
Variance
Unequal in Variance
Equal in Variance