Which of the following statement are true about a variance?

Which of the following statement are true about a variance?

Variance is essentially the variability from the average. Variance describes how spread out a set of numbers or a value is around its mean or average. D. All of the above statements are true.

What is true about the variance of random variable?

Variances are added for both the sum and difference of two independent random variables because the variation in each variable contributes to the variation in each case. If the variables are not independent, then variability in one variable is related to variability in the other.

Is the following statement true or false variance is the square root of standard deviation?

variance is square root of standard deviation it is true…

Which of the following statement is true about relation between standard deviation and variance?

variance is equal to standard deviation.

Which of the following is a relative measure of central tendency?

The median and the mode are the only measures of central tendency that can be used for ordinal data, in which values are ranked relative to each other but are not measured absolutely. the most frequent value in the data set.

How would you interpret a very small variance and standard deviation?

A variance of zero indicates that all of the data values are identical. All non-zero variances are positive. A small variance indicates that the data points tend to be very close to the mean, and to each other. A high variance indicates that the data points are very spread out from the mean, and from one another.

Which is the following statement regarding variances is false?

Which of the following statements regarding variances is (are) false? (A) In general and holding all other things constant, an unfavorable variance decreases operating profits. (B) A favorable variance is not always good, and an unfavorable variance is not always bad.

Which is the following statement is ( is ) true?

21. Which of the following statements is (are) true? (A) A favorable variance is not necessarily good, and an unfavorable variance is not necessarily bad. (B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget).

How is the most fundamental variance analysis performed?

The most fundamental variance analysis compares A. standard material prices with actual material prices. B. standard direct labor rates with actual direct labor rates. C. budgeted sales revenue with actual sales revenue. D. budgeted operating income with actual operating income.

What is the definition of variance in accounting?

A variance can best be described as A. benchmarks common to other firms in the same industry. B. differences between planned results and actual results. C. useful for performance evaluations but not making decisions. D. generally accepted accounting principles when standards are used.