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A deviation from the contractual performance requirements or approved drawings should be submitted as a RFD. [4] An RFD is a specific written authorization to depart from a particular requirement of an item's approved configuration documentation for a specific number of units or period of time. A deviation does not change configuration ...
In economics, price dispersion is variation in prices across sellers of the same item, holding fixed the item's characteristics. Price dispersion can be viewed as a measure of trading frictions (or, tautologically, as a violation of the law of one price ).
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.
Even Markowitz, himself, stated that "semi-variance is the more plausible measure of risk" than his mean-variance theory. [5] Later in 1970, several focus groups were performed where executives from eight industries were asked about their definition of risk resulting in semi-variance being a better indicator than ordinary variance. [6]
The sum of squared deviations is a key component in the calculation of variance, another measure of the spread or dispersion of a data set. Variance is calculated by averaging the squared deviations. Deviation is a fundamental concept in understanding the distribution and variability of data points in statistical analysis. [1]
The standard deviation is a deviation risk measure. To avoid any confusion, note that deviation risk measures, such as variance and standard deviation are sometimes called risk measures in different fields.
Compensating and equivalent variations. Equivalent variation (EV) is a measure of economic welfare changes associated with changes in prices. John Hicks (1939) is attributed with introducing the concept of compensating and equivalent variation.
Variance (the square of the standard deviation) – location-invariant but not linear in scale. Variance-to-mean ratio – mostly used for count data when the term coefficient of dispersion is used and when this ratio is dimensionless, as count data are themselves dimensionless, not otherwise. Some measures of dispersion have specialized purposes.