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If the set is a sample from the whole population, then the unbiased sample variance can be calculated as 1017.538 that is the sum of the squared deviations about the mean of the sample, divided by 11 instead of 12. A function VAR.S in Microsoft Excel gives the unbiased sample variance while VAR.P is for population variance.
Random variables are usually written in upper case Roman letters, such as or and so on. Random variables, in this context, usually refer to something in words, such as "the height of a subject" for a continuous variable, or "the number of cars in the school car park" for a discrete variable, or "the colour of the next bicycle" for a categorical variable.
The definitional equation of sample variance is = (¯), where the divisor is called the degrees of freedom (DF), the summation is called the sum of squares (SS), the result is called the mean square (MS) and the squared terms are deviations from the sample mean. ANOVA estimates 3 sample variances: a total variance based on all the observation ...
var – variance of a random variable. vcs – vercosine function. (Also written as vercos.) ver – versine function. (Also written as vers, siv.) vercos – vercosine function. (Also written as vcs.) vers – versine function. (Also written as ver, siv.)
An unbiased estimator for the variance is given by applying Bessel's correction, using N − 1 instead of N to yield the unbiased sample variance, denoted s 2: = = (¯). This estimator is unbiased if the variance exists and the sample values are drawn independently with replacement.
The probability density of the standard Gaussian distribution (standard normal distribution, with zero mean and unit variance) is often denoted with the Greek letter . [10] The alternative form of the Greek letter phi, φ {\textstyle \varphi } , is also used quite often.
Variance analysis can be carried out for both costs and revenues. Variance analysis is usually associated with explaining the difference (or variance) between actual costs and the standard costs allowed for the good output. For example, the difference in materials costs can be divided into a materials price variance and a materials usage variance.
The Bayer designation naming scheme for stars typically uses the first Greek letter, α, for the brightest star in each constellation, and runs through the alphabet before switching to Latin letters. In mathematical finance , the Greeks are the variables denoted by Greek letters used to describe the risk of certain investments.