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 ...

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 ...

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 ...

In the National Assessment of Educational Progress (NAEP), population inferences and variance estimation are based on a randomization-based perspective where the link between the observed data and the ...

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 ...