# What is an acceptable variance? ## What is an acceptable variance?

What are acceptable variances? The only answer that can be given to this question is, It all depends. If you are doing a well-defined construction job, the variances can be in the range of 35 percent. If the job is research and development, acceptable variances increase generally to around 1015 percent.

## How do you determine a CV?

The formula for the coefficient of variation is: Coefficient of Variation = (Standard Deviation / Mean) * 100. ) * 100. Multiplying the coefficient by 100 is an optional step to get a percentage, as opposed to a decimal.

## What does U mean in math?

more The set made by combining the elements of two sets. So the union of sets A and B is the set of elements in A, or B, or both. The symbol is a special “U” like this: ∪

## What does C mean in stats?

P(AB) means the probability that events A and B occur. You could write it P(A∩B). The superscript c means “complement” and Ac means all outcomes not in A. The complement of an event is the subset of outcomes in the sample space that are not in the event. A complement is itself an event.

## What do the probability symbols mean?

Definitions and Notation The probability that Event A occurs, given that Event B has occurred, is called a conditional probability. The conditional probability of Event A, given Event B, is denoted by the symbol P(A|B). The probability of the union of Events A and B is denoted by P(A ∪ B) .

## What does BAR mean probability?

The vertical bar is often called a ‘pipe’. It is often used in mathematics, logic and statistics. It typically is read as ‘given that’. In probability and statistics it often indicates conditional probability, but can also indicate a conditional distribution. You can read it as ‘conditional on’.

## What are the 3 types of probability?

There are three major types of probabilities:Theoretical Probability.Experimental Probability.Axiomatic Probability.

## What does U mean in probability?

U(a,b) uniform distribution. equal probability in range a,b.