Variance Calculator

✖A pessimistic Time is the longest time that an activity could take if everything is wrong.ⓘ Pessimistic Time [t_p]			+10% -10%
✖Optimistic Time is the shortest possible time to complete the activity if all goes well.ⓘ Optimistic Time [t₀]			+10% -10%

✖The Variance is defined as the average of the squared differences from the Mean.ⓘ Variance [σ²]

⎘ Copy

👎

Formula

LaTeX

Reset

👍

Download Industrial Parameters Formulas PDF PDF Image

Variance Solution

STEP 0: Pre-Calculation Summary

Formula Used

Variance = ((Pessimistic Time-Optimistic Time)/6)^2
σ² = ((t_p-t₀)/6)^2
This formula uses 3 Variables

Variables Used

Variance - The Variance is defined as the average of the squared differences from the Mean.
Pessimistic Time - (Measured in Second) - A pessimistic Time is the longest time that an activity could take if everything is wrong.
Optimistic Time - (Measured in Second) - Optimistic Time is the shortest possible time to complete the activity if all goes well.

STEP 1: Convert Input(s) to Base Unit

Pessimistic Time: 174000 Second --> 174000 Second No Conversion Required
Optimistic Time: 172800 Second --> 172800 Second No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

σ² = ((t_p-t₀)/6)^2 --> ((174000-172800)/6)^2

Evaluating ... ...

σ² = 40000

STEP 3: Convert Result to Output's Unit

40000 --> No Conversion Required

FINAL ANSWER

40000 <-- Variance

(Calculation completed in 00.004 seconds)

You are here -

Home » Engineering » Mechanical » Industrial Engineering » Industrial Parameters » Variance

Credits

Created by Suman Ray Pramanik

Indian Institute of Technology (IIT), Kanpur

Suman Ray Pramanik has created this Calculator and 50+ more calculators!

Verified by Akshada Kulkarni

National Institute of Information Technology (NIIT), Neemrana

Akshada Kulkarni has verified this Calculator and 900+ more calculators!

< Industrial Parameters Calculators

Learning Factor

LaTeX Go Learning Factor = (log10(Time for Task 1)-log10(Time for n Tasks))/log10(Number of Tasks)

Traffic Intensity

LaTeX Go Traffic Intensity = Mean Arrival Rate/Mean Service Rate

Variance

LaTeX Go Variance = ((Pessimistic Time-Optimistic Time)/6)^2

Reorder Point

LaTeX Go Reorder Point = Lead Time Demand+Safety Stock

Variance Formula

LaTeX Go

Variance = ((Pessimistic Time-Optimistic Time)/6)^2
σ² = ((t_p-t₀)/6)^2

What is 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. It is the square of the standard deviation.

How to Calculate Variance?

Variance calculator uses Variance = ((Pessimistic Time-Optimistic Time)/6)^2 to calculate 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 calculate Variance using this online calculator? To use this online calculator for Variance, enter Pessimistic Time (t_p) & Optimistic Time (t₀) and hit the calculate button. Here is how the Variance calculation can be explained with given input values -> 40000 = ((174000-172800)/6)^2.

FAQ

What is 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 and is represented as σ² = ((t_p-t₀)/6)^2 or Variance = ((Pessimistic Time-Optimistic Time)/6)^2. A pessimistic Time is the longest time that an activity could take if everything is wrong & Optimistic Time is the shortest possible time to complete the activity if all goes well.

How to calculate 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 is calculated using Variance = ((Pessimistic Time-Optimistic Time)/6)^2. To calculate Variance, you need Pessimistic Time (t_p) & Optimistic Time (t₀). With our tool, you need to enter the respective value for Pessimistic Time & Optimistic Time and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

Home

FREE PDFs

🔍 Search