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.
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According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]],
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:[[Variance]]. The difference between actual result and expected performance.
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According to [[Managerial Accounting by Braun, Tietz (5th edition)]],
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:[[Variance]]. The difference between an actual figures and budgeted figures.
  
 
==Related concepts==
 
==Related concepts==
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*[[Introduction to Financial Management]].  
 
*[[Introduction to Financial Management]].  
  
[[Category: Financial Management]][[Category: Articles]][[Category: Quality Management]]
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[[Category: Financial Management]][[Category: Articles]][[Category: Quality Management]] [[Category: Accounting]]

Latest revision as of 19:50, 16 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.

According to Managerial Accounting by Braun, Tietz (5th edition),

Variance. The difference between an actual figures and budgeted figures.

Related concepts

Related lectures