Examlex
When using the "ability to bear" philosophy in allocating central service costs, actual sales are preferable to budgeted sales.
Confidence Level
The probability, expressed as a percentage, that a parameter lies within a specified range of values (confidence interval).
Population Mean
The average value of a property in a population.
Confidence Interval
A range of values, derived from the sample data, that is likely to contain the value of an unknown population parameter, with a certain degree of confidence.
Sample Size
The number of observations or data points collected from a subset of a larger population for the purposes of statistical analysis.
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