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Weighted Average
Weighted average is a calculation that takes into account the varying degrees of importance of the numbers in a data set, assigning weights to some of the numbers more than others.
Expected Value
The predicted value of a variable, calculated as a sum of all possible values each multiplied by the probability of its occurrence.
Unit Of Measure
A standard quantity used in measuring and expressing the quantity of an element, substance, or phenomenon.
Variance
A measure of the dispersion or spread of a set of data points around their mean value; it quantifies the degree to which these points differ from the mean.
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