# variance

## Definitions

### General English

- noun the amount of difference between two things

### Accounting

- noun the
__discrepancy__ between the __actual cost__ of an asset or business activity and the standard or expected cost

### Construction

- Permission granted to a landowner to depart from the specific requirements of a
__zoning__ ordinance or other regulatory requirement. A variance allows a landowner to use his or her land differently than specified in the ordinance. - A written authorization from the responsible agency permitting construction in a manner that is not allowed by a
__code__ or ordinance. - The difference between what was originally expected and what actually happened.

### Economics

- noun a difference, especially that between what was planned and the actual results

### Electronics

- In statistics, the value obtained by adding the squares of the differences between each
__number__ and the mean value of a set, __series__, or population, and dividing by the number of members of said set. The square __root__ of variance is called __standard deviation__.

### Health Economics

(written as *Variance*)

A measure of the dispersion of a set of numbers. It is the standard deviation squared. The variance of a population is the squared deviations of the measurements from their mean divided by the size of the population. The variance of a sample uses the sample means in the calculation of the squared deviations and the sample size minus one as the denominator. In accounting and budgeting practice, 'variance' is the difference between a budgeted amount and the outturn.

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