Examlex
What are four generic strategies that may be used in cost management to deal with uncertainty?
Standard Deviation
A measure of the amount of variation or dispersion in a set of values, indicating how spread out the data points are from the mean.
T-distribution
A probability distribution that is used to estimate population parameters when the sample size is small and/or when the population variance is unknown.
Test Statistic
A test statistic is a value calculated from sample data during a hypothesis test. It's compared to a critical value to decide whether to reject the null hypothesis.
μ
The symbol for the mean or average of a set of data points in statistics.
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