Variance meaning

vârē-əns, văr-
Frequency:
Degree of change or difference; divergence; discrepancy.
noun
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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.
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The state or quality of being variant or variable; variation.

Considerable variance in temperature across the region.

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(statistics) The square of the standard deviation.
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The quality, state, or fact of varying or being variant; a changing or tendency to change.
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Official permission to bypass regulations; specif., permission to make nonconforming use of zoned property.
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An active disagreement; quarrel; dispute.
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(accounting) The difference between the actual costs of production and the standard or expected costs.
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(chem.) The number of degrees of freedom of a system.
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(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.
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(statistics) The square of the standard deviation.
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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.
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In budgetary terms, the difference between the amount budgeted and the actual expense.
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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.
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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.
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The act of varying or the state of being variable.
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A difference between what is expected and what happens.
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The state of differing or being in conflict.
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A discrepancy, especially between two legal documents.
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(statistics) The second central moment in probability.
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(computing, programming) Covariance and contravariance generally.
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Variance is a discrepancy, difference or deviation, or an official exception to do something different from the current rule.

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.

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(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.
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at variance
  • not in agreement or accord; conflicting
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Idioms and Phrasal Verbs

Origin of variance

  • From Old French variance.

    From Wiktionary