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A researcher is studying the amount of sleep university students get each night. She notices that there is a lot of variability in the data, with some students typically sleeping for around eight hours a night and some sleeping around five hours a night. One way to measure how spread out the data scores are is to use:
Activity Variance
The difference between the planned activity level and the actual activity level, used in budgeting and costing analyses.
Materials
Raw resources or supplies used in the production of finished goods.
Revenue
The total income generated by a company from its usual business activities, usually from the sale of goods and services to customers.
Spending Variance
A financial metric that indicates the difference between the budgeted or planned amount of spending and the actual amount spent.
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