- variance
- Statistical term that quantifies the dispersion of data such as rates or prices around the mean. For example, highly volatile rates are rates that are sometimes high above the mean and sometimes way below the mean. Less volatile rates are dispersed closer to the mean and therefore have smaller variances. Similar to, but not the same as, the average amount by which data deviates from the mean for that data.
__American Banker Glossary__————A measure of dispersion of a set of data points around their mean value. The mathematical expectation of the average squared deviations from the mean. The square root of the variance is the standard deviation.__Bloomberg Financial Dictionary__* * *

**variance**var‧i‧ance [ˈveəriəns ǁ ˈver-] noun**1.**[uncountable] the amount by which two or more things are different:**• There's a wide variance in the two sets of data.****2.**[countable, uncountable] ACCOUNTING the difference between what something actually costs and its usual or standard cost, or its cost when calculated earlier:**• A significant variance is one amounting to more than 10% of the allocated budget.****3.**[countable] LAW an arrangement in which a court of law allows a company to do something that would not normally be allowed;*=**Exemption**Bre*:**• The authority****granted a variance**so the company could install the satellite dish.**4.**[countable] an arrangement in which a local government authority allows someone to do something to their property that would not normally be allowed* * *

**variance**__UK____US__/ˈveəriəns/__noun__**►**[__C__or__U__] a difference between two or more or things: »»We found a wide variance in the size, shape, and design of digital projectors.

The government fears that too much variance in the treatment of Scottish and English students could cause political strain.

**►**[__C__]__ACCOUNTING__the difference between the costs, sales, etc. expected during a particular period, and the final costs, etc: »Weekly sales variances are more volatile and ultimately less meaningful.

**►**[__C__]__US____LAW__,__PROPERTY__a change in a law, especially one involving the use of property, that is allowed by a local government in particular situations:**apply for/request/seek a variance**»The power company has applied for a variance to the county rule on burying lines.

**grant/deny a variance**»»They filed a lawsuit against trustees after they were denied a variance to build a home on 17.82 acres.

He says he requested a

but that the county refused to process it.*zoning variance*

*Financial and business terms.
2012.*