We Standardize a Random Variable by Subtracting Its ____________________ and Dividing

question 170

Short Answer

We standardize a random variable by subtracting its ____________________ and dividing by its ____________________.

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Definitions:

Cash Disbursements

Outflows of cash for expenses, payments to creditors, or investments, usually tracked in a cash disbursements journal in accounting.

Payments

Payments refer to the transfer of money from one party to another, often as compensation for goods or services.

Petty Cash Fund

A small amount of cash kept on hand within a business for minor and immediate expenses.

Internal Control

Initiatives and standards implemented by a firm to assure the correctness of financial and accountancy details, encourage integrity, and obstruct fraudulent activities.