What are acceptable variances? The only answer that can be given to this question is, “It all depends.” If you are doing a well-defined construction job, the variances can be in the range of ± 3–5 percent. If the job is research and development, acceptable variances increase generally to around ± 10–15 percent.

What is a reasonable variance?

A variance of plus or minus 10% is generally agreed to be reasonable. Anything over 10% is considered a significant variance.

What is a high variance in statistics?

Variance measures how far a set of data is spread out. … A small variance indicates that the data points tend to be very close to the mean, and to each other. A high variance indicates that the data points are very spread out from the mean, and from one another.