variance
Definition 1
A measure of the average distance between each of a set of data points and their mean value; equal to the sum of the squares of the deviation from the mean value.
Definition 2
In accounting, the difference between the actual cost and the standard cost for direct material, labor and overhead.
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Related terms:
covariance, Treynor Index, Sortino ratio
'variance' appears in the definitions of these other terms on BusinessDictionary.com: Pareto chart, rolling budget, significance criteria, standard normal, underloading, and
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