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Monitoring budgets, costs, performance and improvement are part of the management process known as controlling.
Mean
A statistical measure that demonstrates the central or typical value in a set of numbers, calculated by dividing the sum of all values by the number of values.
Standard Deviation
A measure of the dispersion or spread of data points in a dataset relative to its mean.
Sum Squared Deviations
The sum of the squares of each data point's deviation from the mean, a measure used in statistics to quantify variability within a data set.
Sample Mean
The average computed from a sample set of data, representing the central tendency or typical value of the sampled population.
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