Explain the Importance of Training in Benchmarking

question 91

Essay

Explain the importance of training in benchmarking.

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Definitions:

Confidence

In statistics, the degree of certainty or probability that a parameter lies within a specified range of values.

Randomly Sample

A method of selecting a subset of individuals from a population in such a way that each individual has an equal chance of being chosen.

Clear Majority

A situation or result in which a significantly larger portion of a group supports a particular outcome or opinion over all others combined.

Hypothesis Test

A statistical method that uses sample data to evaluate a hypothesis about the properties of a population.