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variance

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Standard Deviation
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var⋅i⋅ance

  [vair-ee-uhns]
Use variance in a Sentence
–noun
1. the state, quality, or fact of being variable, divergent, different, or anomalous.
2. an instance of varying; difference; discrepancy.
3. Also called mean square deviation. Statistics. the square of the standard deviation.
4. Physics, Chemistry. the number of degrees of freedom of a system.
5. Law.
a. a difference or discrepancy, as between two statements or documents in law that should agree.
b. a departure from the cause of action originally stated in the complaint.
6. an official permit to do something normally forbidden by regulations, esp. by building in a way or for a purpose normally forbidden by a zoning law or a building code.
7. a disagreement, dispute, or quarrel.
—Idiom
8. at variance,
a. (of things) in a state of difference or disagreement.
b. (of persons) in a state of controversy or dissension: at variance with one's superiors.
Origin:
1300–50; ME < L variantia, equiv. to vari(āre) to vary ) + -antia -ance
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Standard Deviation
Step-by-step explanation of standard deviation [ tutorial ]
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var·i·ance   (vâr'ē-əns, vār'-)   
n.  

    1. The act of varying.

    2. The state or quality of being variant or variable; a variation.

    3. A difference between what is expected and what actually occurs.

    4. A discrepancy between two statements or documents in a proceeding.

    5. License to engage in an act contrary to a usual rule: a zoning variance.

  2. The state or fact of differing or of being in conflict. See Synonyms at discord.

  3. Law

    1. A discrepancy between two statements or documents in a proceeding.

    2. License to engage in an act contrary to a usual rule: a zoning variance.

  4. Statistics The square of the standard deviation.

  5. Chemistry The number of thermodynamic variables, such as temperature and pressure, required to specify a state of equilibrium of a system, given by the phase rule.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Word Origin & History

variance 
c.1340, "fact of undergoing change," from O.Fr. variance, from L. variantia, from variare "to change" (see vary). Meaning "state of disagreement" is recorded from c.1425. The U.S. zoning sense of "official dispensation from a building regulation" is recorded from 1925.
Online Etymology Dictionary, © 2001 Douglas Harper
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Financial Dictionary

Variance

A measure of the dispersion of a set of data points around their mean value. It is a mathematical expectation of the average squared deviations from the mean.

Investopedia Commentary

Variance measures the variability (volatility) from an average. Volatility is a measure of risk, so this statistic can help determine the risk an investor might take on when purchasing a specific security.

Related Links

Understanding Volatility Measurements
The Uses And Limits Of Volatility

See also: Mean, Risk, Standard Deviation, Variance Swap, Volatility, Volatility Swap

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Financial Dictionary

variance

A statistical measure of the variability of measured datum from the average value of the set of data. A high variance, indicating relatively great variability, also indicates that the average is of minimal use in projecting future values for the data. Standard deviation is the square root of variance. Financial analysts use both statistical measures to weigh investment risk. Compare covariance. See also risk.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: var·i·ance
Pronunciation: 'ver-E-&ns
Function: noun
1 : a disagreement between two documents or positions; especially : a disagreement between allegations (as in an indictment or complaint) and proof offered at trial that warrants an appropriate remedy (as a directed verdict or an acquittal) when prejudicial to the substantial rights of the defendant
2 : an authorization to do something contrary to the usual restriction variance granted by a state agency>; especially : permission for a use of real property that is prohibited by a zoning ordinance —see also UNNECESSARY HARDSHIP —compare SPOT ZONING
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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Medical Dictionary

variance var·i·ance (vâr'ē-əns, vār'-)
n.

  1. The state or quality of being variant or variable; a variation.

  2. The state or fact of differing or of being in conflict.

  3. The square of the standard deviation.

The American Heritage® Stedman's Medical Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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Encyclopedia

variance

in statistics, the square of the standard deviation of a sample or set of data, used procedurally to analyze the factors that may influence the distribution or spread of the data under consideration. See mean.

Learn more about variance with a free trial on Britannica.com.

Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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