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A Parameter Is a Measurable Quantity That May Vary or Is

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A parameter is a measurable quantity that may vary or is subject to change.


Definitions:

Historical Data

Information or records relating to past events, conditions, or performances, used for analysis, comparison, or forecasting.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.

Population

The entire group of individuals or items that is the subject of a statistical analysis.

COUNT(range)

A function in Excel that returns the number of cells containing numbers within a specified range.

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