Examlex
"Statistical uncertainty arising from variation in observations around any measure of central tendency for which the researcher proposes no explanation.It is uncertainty in knowing or predicting individual scores on the basis of a measure of central tendency.This uncertainty is quantified by dispersion measures (e.g.standard deviation, variance, range) ." What is this a glossary definition of?
Equivalent Units
A concept in cost accounting used to express a quantity of partially completed goods in terms of fully completed units.
Physical Flow
The actual movement of goods or materials through a production process, from receipt of raw materials to the delivery of final products.
Work In Process
Items that are in the middle of the production process but not yet finished goods.
Physical Units
A measure of product expressed in terms of tangible units, such as pieces or gallons, rather than in monetary value.
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