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i. For a normal probability distribution, about 95 percent of the area under normal curve is within
Plus and minus two standard deviations of the mean and practically all (99.73 percent) of the area
Under the normal curve is within three standard deviations of the mean.
ii. The total area under the normal curve is 100%.
iii. The mean of a normal probability distribution is 500 and the standard deviation is 10.
About 95 percent of the observations lie between 480 and 520.
Vision and Mission
Statements that articulate an organization's core aims and objectives; vision describes the future aspirations, mission outlines the primary purpose.
Financial Control
The management of an organization's revenues, expenses, and assets to improve financial efficiency and effectiveness.
Small Business Failure Rates
The percentage of small businesses that do not succeed or cease operations within a certain period of time.
First Five Years
A period often referencing the early stage of an entity's existence, crucial for development and long-term success.
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