analysis of variances (ANOVA)

1. General: Statistical technique for determining the degree of difference or similarity between two or more groups of data. It is based on the comparison of the average value of a common component.

2. Accounting: Investigation of causes of difference between actual costs and estimated or standard costs.

3. Quality control: Methodology employed in determining if the variance between the mean in different sets of observations is greater than what may be attributable to chance.