variance

noun
var·​i·​ance | \ ˈver-ē-ən(t)s How to pronounce variance (audio) \

Definition of variance

1 : the fact, quality, or state of being variable or variant : difference, variation yearly variance in crops
2 : the fact or state of being in disagreement : dissension, dispute
3 : a disagreement between two parts of the same legal proceeding that must be consonant
4 : a license to do some act contrary to the usual rule a zoning variance
5 : the square of the standard deviation
at variance
: not in harmony or agreement

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Choose the Right Synonym for variance

discord, strife, conflict, contention, dissension, variance mean a state or condition marked by a lack of agreement or harmony. discord implies an intrinsic or essential lack of harmony producing quarreling, factiousness, or antagonism. a political party long racked by discord strife emphasizes a struggle for superiority rather than the incongruity or incompatibility of the persons or things involved. during his brief reign the empire was never free of civil strife conflict usually stresses the action of forces in opposition but in static applications implies an irreconcilability as of duties or desires. the conflict of freedom and responsibility contention applies to strife or competition that shows itself in quarreling, disputing, or controversy. several points of contention about the new zoning law dissension implies strife or discord and stresses a division into factions. religious dissension threatened to split the colony variance implies a clash between persons or things owing to a difference in nature, opinion, or interest. cultural variances that work against a national identity

Examples of variance in a Sentence

There was some variance in the results. We noticed a slight variance between the quality of the samples. He had to get a variance to add a garage on to his house.
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Recent Examples on the Web

Taking the opposite tack, the St. Paul Planning Commission in December voted 12-1 against supporting a local historic designation, and later approved the school’s site plan and three zoning variances. Frederick Melo, Twin Cities, "State board supports national historic status for old St. Andrew’s Church, posthumously," 27 Aug. 2019 One member asked the school board for a variance to allow their child to go somewhere other than Stonewall Jackson, and was denied. Washington Post, "NAACP challenges legality of Confederate names on Virginia schools," 16 Aug. 2019 Minnesota Public Radio News reports that Avon is the first city to ask for a variance to chloride limits under the federal Clean Water Act. USA TODAY, "Ink library, parking barnacles, lunar training grounds: News from around our 50 states," 9 July 2019 The Post used the variance ratio to calculate an integration score for each district. Washington Post, "How the nation’s growing racial diversity is changing our schools," 12 Sep. 2019 Nearly 60% of Florida’s nursing homes and adult living facilities filed waivers, extensions and variances multiple times, asking for more time to meet the requirements. Cindy Krischer Goodman, sun-sentinel.com, "Florida’s seniors left vulnerable to hurricanes because of extensions to generator rules and lack of enforcement," 9 Sep. 2019 Christopher previously spent most of the last five years overseeing the city’s Inspectional Services Department, the agency that provides staffing and recommendations on permits and variances to the zoning board. Tim Logan, BostonGlobe.com, "Top Walsh aide to take leave amid bribery investigation," 6 Sep. 2019 It’s more about the variance and volatility of the expected income. Michael J. Coren, Quartz, "Startups want to turn your tuition into the next asset class. What could go wrong?," 22 Aug. 2019 Hemingway and Property Advisors Group still need slight variances on the revised height of the apartment building and other aspects of the project. Steven Litt, cleveland.com, "Controversial Little Italy apartment project approved by Landmarks Commission," 22 Aug. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'variance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of variance

14th century, in the meaning defined at sense 1

History and Etymology for variance

Middle English variaunce "change, variety, discrepancy," borrowed from Anglo-French variance, borrowed from Latin variantia, "diversity, variety," from variant-, varians variant entry 1 + -ia -ia entry 1

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Learn More about variance

Statistics for variance

Last Updated

7 Oct 2019

Look-up Popularity

Time Traveler for variance

The first known use of variance was in the 14th century

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More Definitions for variance

variance

noun

Financial Definition of variance

What It Is

Variance is a statistical measure of how much a set of observations differ from each other.

In accounting and financial analysis, variance also refers to how much an actual expense deviates from the budgeted or forecast amount.

How It Works

For example, let's say Company XYZ stock has the following prices:

The average of these prices is $21.33. To calculate the variance, we see how "far away" each day's stock price is from $21, like this:

Notice that some of the differences are negative. Because we're going to calculate the average difference, the negative numbers create a mathematical problem (they'll offset the positive numbers and screw up the calculation). To avoid this, we square each difference so that each difference is positive, like this:



The last step is simply calculating the average of those squared differences, which is $9.42, and then taking the square root of that number to get the amount by which Company XYZ stock tends to vary from its average price.

The square root is $3.07, meaning that when Company XYZ deviates from that $21 average, it tends to do so by about $3.07.

Why It Matters

Variance is a measure of volatility because it measures how much a stock tends to deviate from its mean. The higher the variance, the more wildly the stock fluctuates. Accordingly, the higher the variance, the riskier the stock.

Source: Investing Answers

variance

noun

English Language Learners Definition of variance

formal : an amount of difference or change
law : an official decision or document that allows someone to do something that is not usually allowed by the rules

variance

noun
var·​i·​ance | \ ˈver-ē-əns How to pronounce variance (audio) \

Legal Definition of variance

1 : a disagreement between two documents or positions especially : a disagreement between allegations (as in an indictment or complaint) and proof offered at trial that warrants an appropriate remedy (as a directed verdict or an acquittal) when prejudicial to the substantial rights of the defendant
2 : an authorization to do something contrary to the usual restriction a variance granted by a state agency especially : permission for a use of real property that is prohibited by a zoning ordinance — see also unnecessary hardship — compare spot zoning

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Comments on variance

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