In a technological driven environment, a depreciation estimate which is based on traditional life analysis results in a decelerated rate of capital recovery. This time pattern of technological growths models needs to be incorporated into life analysis framework especially in those industries experiencing fast technological changes. The approximation technique for calculating the variance can be applied to the six growth models that were selected by the degree of skewness and the transformation of the functions. For the Pearl growth model, the Gompertz growth model, and the Weibull growth model, the errors have zero mean and a constant variance over time. However, transformed models like the linearized Fisher-Pry model, the linearized Gompertz growth model, and the linearized Weibull growth model have increasing variance from zero to that point at which inflection occurs. It can be recommended that if the variance of error over time is increasing, then a transformation of observed data is appropriate.