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Process Variation |
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Process VariationThe spread of process output over time. There is variation in every process, and all variation is caused. The causes are of two types: special or common. A process can have both types of variation at the same time or only common cause variation. The management action necessary to improve the process is very different in each situation.Similar MatchesEquivalent variationEquivalent variationThe amount of money that, paid to a person, group, or whole economy, would make them as well off as a specified change in the economy. Provides a monetary measure of the welfare effect of that change that is similar to, but not in general the same as, compensating variation. Special Cause VariationSpecial Cause VariationVariation in the process that is assignable to a specific cause or causes. It arises because of special circumstances. Variation marginVariation marginProfits and losses on open futures contracts, which are revalued daily at the settlement price, which are subsequently paid to or received from the clearing house. Special and Common Cause System of VariationSpecial and Common Cause System of VariationThe collection of variables that produce both common cause variation and special cause variation and the interaction of those variables. Trading variationTrading variationThe increments to which securities prices are rounded up or rounded down. Further SuggestionsCompensating variationCommon Cause System of Variation deed of variation Coefficient of Variation |
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