Variance: meaning, definitions and examples

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variance

 

[ หˆvษ›หrษชษ™ns ]

Noun
Context #1 | Noun

statistics

The extent to which data points differ from the mean. It is a measure of how spread out a set of values are from the average value.

Synonyms

dispersion, spread, variability.

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Word Description / Examples
variance

Use in statistical contexts to describe the extent to which values differ from the mean of a data set. Often used in formal or technical discussions.

  • The variance in test scores indicates a wide range of student performance.
  • We calculated the variance to understand the data better.
variability

Used to describe the quality of being inconsistent or variable, often in scientific, medical, or technical discussions. Focuses on the tendency of data to vary.

  • The variability in weather makes it hard to plan outdoor events.
  • Researchers are studying the genetic variability in the population.
dispersion

Utilized in both statistical and general contexts to describe the distribution or scattering of data points or objects. Can be used in formal discussions about data or in everyday scenarios.

  • The dispersion of seeds by the wind helps plants to grow in different areas.
  • Examining the dispersion of data points can reveal patterns or outliers.
spread

Often used in informal or everyday contexts to describe how much something extends over an area or among a range of values. Commonly used in financial contexts as well.

  • The spread of the rumor caused unnecessary panic.
  • We checked the spread of prices among different stores to find the best deal.

Examples of usage

  • The variance of the data set is used to understand the dispersion of the data points.
  • A high variance indicates that the data points are spread out widely.
Context #2 | Noun

finance

In finance, variance refers to the squared deviation of a random variable from its expected value. It is used to measure the risk or volatility of an investment.

Examples of usage

  • Investors use variance to assess the potential fluctuations in the value of their investments.
  • A low variance indicates that the investment is relatively stable.

Translations

Translations of the word "variance" in other languages:

๐Ÿ‡ต๐Ÿ‡น variรขncia

๐Ÿ‡ฎ๐Ÿ‡ณ เคชเฅเคฐเคธเคฐเคฃ

๐Ÿ‡ฉ๐Ÿ‡ช Varianz

๐Ÿ‡ฎ๐Ÿ‡ฉ varian

๐Ÿ‡บ๐Ÿ‡ฆ ะดะธัะฟะตั€ัั–ั

๐Ÿ‡ต๐Ÿ‡ฑ wariancja

๐Ÿ‡ฏ๐Ÿ‡ต ๅˆ†ๆ•ฃ

๐Ÿ‡ซ๐Ÿ‡ท variance

๐Ÿ‡ช๐Ÿ‡ธ varianza

๐Ÿ‡น๐Ÿ‡ท varyans

๐Ÿ‡ฐ๐Ÿ‡ท ๋ถ„์‚ฐ

๐Ÿ‡ธ๐Ÿ‡ฆ ุชุจุงูŠู†

๐Ÿ‡จ๐Ÿ‡ฟ variabilita

๐Ÿ‡ธ๐Ÿ‡ฐ variabilita

๐Ÿ‡จ๐Ÿ‡ณ ๆ–นๅทฎ

๐Ÿ‡ธ๐Ÿ‡ฎ varianca

๐Ÿ‡ฎ๐Ÿ‡ธ dreifing

๐Ÿ‡ฐ๐Ÿ‡ฟ ะดะธัะฟะตั€ัะธั

๐Ÿ‡ฌ๐Ÿ‡ช แƒ•แƒแƒ แƒ˜แƒแƒชแƒ˜แƒ

๐Ÿ‡ฆ๐Ÿ‡ฟ dispersiya

๐Ÿ‡ฒ๐Ÿ‡ฝ varianza

Etymology

The word 'variance' originates from the Latin word 'variantia', meaning 'difference' or 'diversity'. It first appeared in English in the 16th century. The concept of variance is widely used in statistics, finance, and other fields to quantify the variability or dispersion of data.

See also: unvaried, unvarying, variable, varied, variety, various, variously, vary, varying, varyingly.

Word Frequency Rank

With rank #4,307, this word represents useful upper-intermediate vocabulary. Understanding and using it will help you express more complex ideas effectively.