This Is the Formal Contract Between Clients and an Outsourcing

question 31

Short Answer

This is the formal contract between clients and an outsourcing provider that describes the expected performance of the service.

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Definitions:

Variance

A measure of the dispersion of a set of data points around their mean value, indicating how spread out the data are.

Measure of Variability

Statistical indices that describe the spread or dispersion within a set of numerical data, including range, variance, and standard deviation.

Percentiles

Values below which a certain percentage of data in a data set fall.

Quartiles

The 25th, 50th, and 75th percentiles, referred to as the first quartile, the second quartile (median), and third quartile, respectively. The quartiles can be used to divide a data set into four parts, with each part containing approximately 25% of the data.