Difference between revisions of "Variance"
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According to [[Juran's Quality Handbook by Defeo (7th edition)]], | According to [[Juran's Quality Handbook by Defeo (7th edition)]], | ||
:[[Variance]]. The average squared deviation of each data point from the mean. | :[[Variance]]. The average squared deviation of each data point from the mean. | ||
| + | According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], | ||
| + | :[[Variance]]. The difference between actual result and expected performance. | ||
==Related concepts== | ==Related concepts== | ||
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*[[Introduction to Financial Management]]. | *[[Introduction to Financial Management]]. | ||
| − | [[Category: Financial Management]][[Category: Articles]][[Category: Quality Management]] | + | [[Category: Financial Management]][[Category: Articles]][[Category: Quality Management]] [[Category: Accounting]] |
Revision as of 15:20, 11 July 2020
Variance, σ2, is a measure of the distribution's variability. It is the sum of the squared deviations about the expected value.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Variance, σ2. A measure of the distribution's variability. It is the sum of the squared deviations about the expected value.
According to Juran's Quality Handbook by Defeo (7th edition),
- Variance. The average squared deviation of each data point from the mean.
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Variance. The difference between actual result and expected performance.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
