Variance is a statistical calculation that numerically describes the amount of variation in a data set. If values in a data set wildly fluctuate, variance would be high and predictions based on the ...

This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along ...

As a small-business leader, taking care of the bottom line is critical for growth, as well as for maintaining your current payroll and customers. Understanding sales price variance can help you ...

Even the best budgets rarely turn out exactly the way that planners expect. Whenever you're planning in advance for a period of time, you'll inevitably make some mistakes in your estimates, and it's ...

A good tool to ask the right questions. A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict ...

The Journal of Business & Economic Statistics (JBES) has been published quarterly since 1983 by the American Statistical Association. It serves as a unique meeting place for applied economists, ...

There are a few management essentials every restaurateur needs to know to run a successful business. Tracking your exact food and beverage costs, actual usage and sales—and analyzing the differences ...

Even the best budgets rarely turn out exactly the way that planners expect. Whenever you're planning in advance for a period of time, you'll inevitably make some mistakes in your estimates, and it's ...