$$\text { Why is } s ^ { 2 } \text { the best point estimate of } \sigma ^ { 2 }$$

question 71

Essay

$$\text { Why is } s ^ { 2 } \text { the best point estimate of } \sigma ^ { 2 }$$ ?

Recognize liabilities for short-term compensated absences based on vesting and accumulating conditions.

Familiarize with various employee benefits not covered by AASB 119/IAS 19.

Distinguish between accumulating and non-accumulating leave entitlements under AASB 119.

Understand the origin of actuarial gains or losses in defined benefit plans.

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Definitions:

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people that are passed down from generation to generation.

Newborns

Infants in their initial stage of life, immediately after birth, focusing on adaptation to the external environment outside the womb.

Emotion

A complex psychological state that involves a subjective experience, a physiological response, and a behavioral or expressive response.

Experience

The knowledge or skill acquired through involvement in or exposure to events, situations, or activities over time.