- The difference between two documents is an example of a variance.
- When you get permission to deviate from the normal building code rules, this is an example of a time when you get a variance.
Variance is a discrepancy, difference or deviation, or an official exception to do something different from the current rule.
- the quality, state, or fact of varying or being variant; a changing or tendency to change
- degree of change or difference; divergence; discrepancy
- official permission to bypass regulations; specif., permission to make nonconforming use of zoned property
- an active disagreement; quarrel; dispute
- Accounting the difference between the actual costs of production and the standard or expected costs
- Chem. the number of degrees of freedom of a system
- Law a lack of agreement between two parts of a legal proceeding which should agree, as between a statement and the evidence offered in support of it
- Statistics the square of the standard deviation
Origin of varianceOld French ; from Classical Latin variantia ; from Classical Latin varians, present participle of variare, to vary
not in agreement or accord; conflicting
- The state or quality of being variant or variable; variation: considerable variance in temperature across the region.
- a. Difference or inconsistency: Your behavior is at variance with your beliefs.b. The state or fact of being in disagreement or in conflict: I am at variance with her over who should pay for the damage.
- Law a. A discrepancy between two statements or documents, especially between the charge in a criminal indictment and the evidence presented.b. An exception to the application of a usual rule, granted by an authority on the basis of hardship or practicality: a zoning variance.
- Statistics The square of the standard deviation.
- 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 degrees of freedom of a system.
- The act of varying or the state of being variable
- A difference between what is expected and what happens
- The state of differing or being in conflict
- A discrepancy, especially between two legal documents
- (statistics) The second central moment in probability
- (computing, programming) covariance and contravariance generally
From Old French variance.
variance - Investment & Finance Definition
- An exception to zoning rules established by a city government. For example, a zoning variance may be granted to allow business activity in an area zoned for residential use.
- In accounting terms, the difference between the actual costs incurred to purchase materials and the standard costs for material, labor, and overhead. A positive variance occurs when the actual costs turn out to be lower than the standard or anticipated cost.
- In budgetary terms, the difference between the amount budgeted and the actual expense.
variance - Legal Definition
- A discrepancy between two documents or statements that should agree; especially in a criminal trial, a disparity between what is alleged in the charges and what is presented at trial as proof.
- In zoning law, an exception to a specified zoning regulation that may be granted by a zoning board or authority; for example, reducing the number of required parking spaces for a business below the number set forth in zoning regulations as being required for a business of that size or type.