👉 The term "nonvariance" refers to a statistical measure that measures the degree of variability or dispersion of data values. It is often used in econometrics, where it helps assess how much variation there is between the values of two different variables. In other words, a nonvariance can be defined as the percentage of variability (the difference between each value and its mean) that is not explained by either the independent variable or the dependent variable. This measure provides an estimate of how well the data
