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Alternative "What If?" Scenarios Can Be Easily Accommodated in Financial

question 19

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Alternative "What if?" scenarios can be easily accommodated in financial planning by use of:


Definitions:

Confidence Interval

A selection of values, extracted from sample analyses, believed to encompass the value of an unseen population parameter.

Sample Variance

The measure of dispersion within a sample data set, representing the average of the squared differences from the sample mean.

Chi-squared Distributed

A distribution used in hypothesis testing that is derived from the sum of squared deviations between observed and expected frequencies.

Degrees of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, often associated with the number of observations minus the number of parameters estimated.

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