Examlex
An estimator is unbiased if the mean of its sampling distribution is the population parameter being estimated.
Price Differential
The variation in the price of a product or service in different markets or purchase conditions.
Rational Decision Maker
An individual who makes choices based on reasoning and the systematic evaluation of options to achieve the most beneficial outcome.
Business Trip
A journey taken for work or professional purposes, often involving travel outside of the usual workplace.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing to undertake an action.
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