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A note payable must always be paid before an account payable.
Population Distribution
A term that describes how the values of a variable are distributed across an entire population.
Sampling Distribution
The probability distribution of a given statistic based on a random sample.
Normal Distribution
A bell-shaped curve distribution that is symmetrical around the mean, where the bulk of the values lie near the center and it tails off towards the extremes.
Central Limit Theorem
The Central Limit Theorem is a statistical theory that states that the sampling distribution of the sample mean approaches a normal distribution, regardless of the population's distribution, given a large enough sample size.
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