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Variance Formula

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The Variance is defined as the average of the squared differences from the Mean. Check FAQs

σ 2 = {(\frac{t p - t 0}{6})}^{2}

σ² - Variance?t_p - Pessimistic Time?t₀ - Optimistic Time?

Variance Example

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With units

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Here is how the Variance equation looks like with Values.

Here is how the Variance equation looks like with Units.

Here is how the Variance equation looks like.

40000 = {(\frac{174000 - 172800}{6})}^{2}

40000 = {(\frac{174000s - 172800s}{6})}^{2}

40000 = {(\frac{174000 - 172800}{6})}^{2}

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Variance Solution

Follow our step by step solution on how to calculate Variance?

FIRST Step Consider the formula

σ 2 = {(\frac{t p - t 0}{6})}^{2}

Next Step Substitute values of Variables

∴

σ 2 = {(\frac{174000s - 172800s}{6})}^{2}

Next Step Prepare to Evaluate

∴

σ 2 = {(\frac{174000 - 172800}{6})}^{2}

LAST Step Evaluate

∴

σ 2 = 40000

Variance Formula Elements

Variables

Variance

The Variance is defined as the average of the squared differences from the Mean.

Symbol: σ²

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Variance

Pessimistic Time

A pessimistic Time is the longest time that an activity could take if everything is wrong.

Symbol: t_p

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Pessimistic Time

Optimistic Time

Optimistic Time is the shortest possible time to complete the activity if all goes well.

Symbol: t₀

Measurement: TimeUnit: s

Note: Value should be greater than 0.

Formulas to find Optimistic Time

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How to Evaluate Variance?

Variance evaluator uses Variance = ((Pessimistic Time-Optimistic Time)/6)^2 to evaluate the Variance, Variance is the expectation of the squared deviation of a random variable from its mean. Informally, it measures how far a set of numbers is spread out from their average value. Variance is denoted by σ² symbol.

How to evaluate Variance using this online evaluator? To use this online evaluator for Variance, enter Pessimistic Time (t_p) & Optimistic Time (t₀) and hit the calculate button.

FAQs on Variance

What is the formula to find Variance?

The formula of Variance is expressed as Variance = ((Pessimistic Time-Optimistic Time)/6)^2. Here is an example- 40000 = ((174000-172800)/6)^2.

How to calculate Variance?

With Pessimistic Time (t_p) & Optimistic Time (t₀) we can find Variance using the formula - Variance = ((Pessimistic Time-Optimistic Time)/6)^2.

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Variance Formula

Variance Example

Variance Solution

Variance Formula Elements

Other formulas in Industrial Parameters category

How to Evaluate Variance?

FAQs on Variance

Variable Name