Variance is also used in machine learning to understand changes in model performance due to using different samples of training data. Calculating variance is easy using Python.

To calculate statistical variance in Microsoft Excel, use the built-in Excel function VAR.

The following article will show you, step-by-step, how to calculate the historical variance of stock returns with a detailed example.

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To determine the variance in gross profit margin that these two types of adjustments create, calculate the margin for each price/cost scenario, and subtract the results.