What is the meaning of Variance?

The act of varying or the state of being variable.

A difference between what is expected and what is observed; deviation.

The state of differing or being in conflict.

An official permit to do something that is ordinarily forbidden by regulations.

A discrepancy between two legal documents.

A departure from a cause of action originally in a complaint.

The second central moment in probability.

The number of degrees of freedom in a system.

Covariance and contravariance generally.

variance

Source: wiktionary.org