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The central limit theorem states that for a sufficiently large sample,the sampling distribution of the means of all possible samples of size n generated from the population will be approximately normally distributed with the mean of the sampling distribution equal to σ2 and the variance equal to σ2/n.
Chief Supply Officer
A top executive responsible for overseeing and managing an organization's supply chain and procurement strategy, ensuring efficiency and effectiveness.
Time Horizon
The length of time over which an investment or a business project is expected to be active or achieve a certain goal.
Subcontracts
Agreements made between a main contractor and a third party to perform part of the work assigned under a primary contract.
Expensive
Involving a high cost or requiring considerable expenditure.
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