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Describe the three steps to the managerial process of controlling.
Sampling Distribution
The probability distribution of a given statistic based on a random sample, used to make inferences about a population parameter.
Standard Deviation
Standard deviation is a statistical measure of the dispersion or variance within a dataset, indicating how spread out the data points are from the mean.
Normal Distribution
A statistical distribution that is symmetric around its mean, showing that data near the mean are more frequent in occurrence than data far from the mean.
Normal Distribution
This probability distribution exhibits symmetry around its mean, indicating higher frequencies of data near the mean compared to data further away.
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