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what is statistics? (types (bidirectional, unidirectional (or…
what is statistics?
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variance analysis
analysis tool used in statistics that divides the aggregate variability found within a two-part data set
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Analysis of Variations
To break down the various underlying factors that determine the price of values as well as the behavior of the market
Unfavorable variance
difference between a real experience and a budgeted experience in any financial category in which the actual result is less favorable than the projected result
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formula
f = between the estimation of group variance (MSB) divided by the estimation of group variance (MSW), where F = MSB/MSW
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Efficiency variation
The difference between the theoretical number of entries required to produce an output unit and the actual number of inputs used