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In ratio analysis, the ratios are never expressed as a
Probability Distributions
Denotes mathematical functions that describe all the possible values and likelihoods that a random variable can take within a given range.
Normal Distribution
A bell-shaped curve that is symmetric about its mean, representing the distribution of a set of data where most observations cluster around the central peak.
Simple Random
A sampling method where each member of a population has an equal chance of being selected, ensuring unbiased representation.
Systematic Sampling
A statistical sampling method where elements are selected from an ordered population using a fixed periodic interval.
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