Question

 

 Variance and coefficient of variation

17 Nov 2025
Answer :
Word Count : 249
Variance is a fundamental concept in business mathematics and statistics that measures the dispersion of a set of data points around their mean. It provides insight into how much the values in a dataset deviate from the average value. In a business context, variance helps managers and analysts understand the consistency or volatility of factors such as sales, production costs, or returns on investment. To calculate variance, one first determines the mean of the dataset, then computes the squared differences between each
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