Business Dictionary :
Van, Variable, Variability, Variance and Variation

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Van : noun : small goods vehicle


Delivery Van = van for delivering goods to customers


Variable : adjective : something which changes


Variable Costs = money paid to produce a product which increases with the quantity made (such as wages, raw materials)


Variability : noun : being variable

NOTE : no plural


Variance : noun : difference


Budget Variance = difference between the cost as estimated for the budget and the actual cost


At Variance With = which does not agree with

• The actual sales are at variance with the sales reported by the reps.

Variation : noun : amount by which something changes


Seasonal Variations = changes which take place because of the seasons

• Seasonal variations in buying patterns

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