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Use the Gram-Schmidt process to convert the set
to an orthonormal basis with respect to the inner product
.
Price Variance
A measurement of the difference between the actual cost of a good or service and its expected cost.
Quantity Variance
The difference between the expected and actual quantities used or produced in a process.
Total Cost Variance
The difference between the actual cost and the standard cost of an operation, process, or product.
Direct Materials Price
The cost of raw materials and components required to produce a finished product.
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