Learn what analysis of variance (ANOVA) is, how it works, and when to use it. See how it helps compare means across multiple data groups in statistics and research.

Variance analysis, also described as analysis of variance or ANOVA, involves assessing the difference between two figures. It is a tool applied to financial and operational data that aims to identify ...

A variance occurs when expenses such as revenue or labor are either more or less than what the company anticipated and budgeted for. Hospitality businesses such as hotels and restaurants can ...