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What Is the Equation to Determine the Estimated Additional Funds

question 21

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What is the equation to determine the estimated additional funds needed (AFN) ?

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Definitions:

Parameter

A characteristic or measure that can define or summarize a particular aspect of a statistical population or model.

Estimation

The process of finding an approximate value of some parameter—such as a mean or proportion—of a population, based on random sample data.

Population Parameters

Numeric values that summarize and describe characteristics of an entire population, such as mean, variance, or proportion.

Sample Statistics

Refers to the numerical data collected from a subset of a population, used to estimate the characteristics of that entire population.

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