-
What does a negative profit variance mean?
From a statistical sense, variance is basically a measure of how spread out the data is from the mean (center) observation. For example, if a company has a mean profit of $100 from all their sales,...
-
What is a Variance and how do you use variance into a sentence?
A variance is a deviation from the town code. Example: Homeowner 1 applied for an area variance for side yard setback for a proposed shed. Meaning the homeowner was required by code to place the shed...
-
If the controllable overhead variance is favorable the overhead volume variance?
volume variance relates to Fixed cost absorption, where as controllable variances arise due difference in actual variable spending per activity measure.
-
Why are variances calculated?
Variances are calculated for various reasons. Here is an example of why: A geologist wants to know where the North American Plate is moving. He measures the position one year. When he re-measures on...
-
What is co-variance?
Covariance is a measure of how much two variables change together.If one variable changes how much will the other change?Example people's length and weight change together (within certain limits)...
