Examlex
Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are unemployed this economy?
Mean Absolute Deviation
A statistical measure used to quantify the spread or variability in a data set, indicating the average absolute difference from the mean.
MAD
Mean Absolute Deviation, a measure used in statistics to quantify the average absolute dispersion or deviation from the mean or average.
Materials Management
The function responsible for planning, sourcing, moving, and storing materials required to produce goods and services.
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