Examlex
What is the output for a process that has a takt time of 1.25 minutes per unit?
Plus Four Estimate
A method used in statistics to adjust a sample size by adding four observations: two at the high end and two at the low end of the dataset.
Sampling Variability
The natural variation in statistics (such as the mean) that occurs from one sample to another.
SRS
Simple random sampling, a basic probabilistic method ensuring each member of a population has an equal chance of being included in the sample.
Statistically Significant
Refers to a result that is unlikely to have occurred by chance alone, according to a predefined significance level, often indicating a strong evidence against the null hypothesis.
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