________ Are Often So Central to a Business That Failure

question 58

Essay

________ are often so central to a business that failure for a few hours can lead to a firm's demise and perhaps that of other firms linked to it.

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Definitions:

Sample Statistic

A numerical measurement describing some characteristic of a sample, such as the mean or variance.

Sample Mean

The mean of a collection of numbers, determined by summing all the numbers in the set and then dividing by the count of the numbers.

Population Mean

The average of a set of characteristics (such as age, weight) of every member of a population.

Consistent Estimator

A statistical property of an estimator indicating that as the sample size grows, the estimator converges in probability to the parameter being estimated.