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Matthew is asked to develop a computerized answering service. No matter how good he makes the software, people still have to wait to talk with the live representatives. Knowing queuing theory, Matthew would be correct to build questions into the software for people to answer while they are waiting, even if the information is never used.
Calculating Variance
The process of determining the spread or dispersion of a set of numbers by averaging the squared differences from the mean.
Description of the Population
Detailed characterization of the individuals or items in a population, including demographics or relevant characteristics.
Central Tendency
A statistical measure that identifies the middle or center of a distribution of data, commonly represented by the mean, median, or mode.
Mean, Median, Mode
Statistical measures where mean is the average of a dataset, median is the middle value, and mode is the most frequently occurring value.
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