As an example, variance analysis might reveal that when sales for widget A rise there is a correlated rise in the sales for widget B. Improved safety features for one product might result in sales ...

Variance analysis allows the owner or manager to determine what caused the variance. For example, if a hotel expected labor costs to total $50,000 but ended up paying $55,000, a variance analysis ...

Analysis of variance (ANOVA) is a statistical analysis tool that separates the total variability found within a data set into two components: random and systematic factors.