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View Poll Results: Which represents variance?
Variance = E[(X-E[X])^2] = E[X^2] - E[X]^2 74 60.16%
Variance = Amount this month - Amount last month 6 4.88%
Both of the above 34 27.64%
Variance = E[42] 9 7.32%
Voters: 123. You may not vote on this poll

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  #1  
Old 02-08-2016, 11:05 AM
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Default Variance

Which one of these represents variance?
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  #2  
Old 02-08-2016, 11:14 AM
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Actual vs expected
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Old 02-08-2016, 11:31 AM
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This.
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Old 02-08-2016, 12:03 PM
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Originally Posted by whoanonstop View Post
Which one of these represents variance?
It depends on context.
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Old 02-08-2016, 12:03 PM
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Yeah, that's what I thought when I saw the thread title.
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JMO is right
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I agree with JMO.
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Originally Posted by Westley View Post
And def agree w/ JMO.
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Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
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Yup, it is always someone else's fault.
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Depends upon the employer and the situation.
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Therapists should ask the right questions, not give the right answers.
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I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
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Old 02-08-2016, 12:26 PM
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The reason for this thread is that I've yet to see variance defined in a business environment as the mathematical construct. It is almost always a change or difference from month to month.

We sold 40 oranges last month and 50 oranges this month. Our "variance" is 10 for oranges sold.

-Riley
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Old 02-08-2016, 12:36 PM
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A chief actuary I used to work with always called the differences "delta." The company compared results to prior year and to plan, rather than to prior month. FWIW.
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Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Nov. 20, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by El Actuario View Post
Therapists should ask the right questions, not give the right answers.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
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  #8  
Old 02-08-2016, 12:37 PM
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Quote:
Originally Posted by whoanonstop View Post
The reason for this thread is that I've yet to see variance defined in a business environment as the mathematical construct. It is almost always a change or difference from month to month.

We sold 40 oranges last month and 50 oranges this month. Our "variance" is 10 for oranges sold.

-Riley
That's okay. The "multiplication principle" is always an illustration of exponentiation.
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Old 02-08-2016, 12:48 PM
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Quote:
Originally Posted by JMO View Post
A chief actuary I used to work with always called the differences "delta." The company compared results to prior year and to plan, rather than to prior month. FWIW.
I've heard this.

At a previous company, when talking about differences in general, I heard "variance" used.
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  #10  
Old 02-08-2016, 01:20 PM
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Quote:
Originally Posted by JMO View Post
It depends on context.
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