What is the relationship between “management by exception” and “variance analysis”?
this is just a guess…. variance analysis: is when you make a decision based on statistical records. Like lets say you want to produce a new soap and you did some market research…so you do these analysis base on your trial population to come to a good decision as how many people would buy your soap. Management by exception: you make a decision that has nothing to do with statistics and because of circumstances you make a decision: Lets say a soap factory burns down and there is a shortage…so you just make the soap. Again I could be completely wrong and this is just a guess.
