The "Std Deviation and Variance.vi" of the Probability & Statistics" Palette:

does exactly what the description says.
Wait!
What is that "Weighting (Sample)" input THAT IS NOT A REQUIRED INPUT? And more importantly, what is its Default Value "Sample" doing?
Let's take a look at the doc:
It computes variance = 1/W*sum((X_i-mean)^2) where the X_i are the array elements (total number N) and mean is their average and:
W = N when weighting = Population
W = N - 1 when weighting = Sample (the default).
I am not a statistician, but I would be surprised if many in the engineering and scientific fields are using the second definition.
If you have a large sample, the difference is minimal.
In the other cases, all bets are off.
In particular try N = 1.
There is a very verbose mention of it in the new source of all knoweldge, wikipedia, at the end of the article, but it has been proposed to move it to some more specialized article. In other words, nobody cares, unless they are statisticians. In this case, they'll use anything but LabVIEW to analyze data.
So either set the default value to "Population" OR make the input required AND the doc much clearer about the consequences of the weighting choice.