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Meaning of variance
1. (n) an activity that varies from a norm or standard; "any variation in his routine was immediately reported"
2. (n) the quality of being subject to variation
3. (n) a difference between conflicting facts or claims or opinions; "a growing divergence of opinion"
4. (n) the second moment around the mean; the expected value of the square of the deviations of a random variable from its mean value
5. (n) discord that splits a group
6. (n) an event that departs from expectations
 

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