Examlex
In the textbook, the expression "quality at the source" means that we need to purchase the best quality a supplier or vendor can provide.
Standard Deviation
A measure of the dispersion or variability in a set of data points, indicating the degree of risk or volatility.
Probability Distribution
A statistical tool that maps out every possible outcome along with its probability for a random variable within a predefined scope.
Expected Rate
Expected rate often refers to the return anticipated on an investment or project in the future, taking into account the risk and uncertainties associated with it.
Standard Deviation
A measure of the dispersion or variability around the mean of a set of data values, often used in finance to gauge investment risk.
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