Outliers Are Data Values That Fall Beyond ±2 Standard Deviations

question 114

True/False

Outliers are data values that fall beyond ±2 standard deviations from the mean.

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Definitions:

Creditors

Entities or individuals to whom a company owes money, due to the provision of goods, services, or loans.

Technical Services

Specialized services that require technical expertise or skills, often provided in fields such as IT, engineering, or maintenance.

Fair Value

The selling price of an asset or the expense involved in handing over a liability during a regulated deal with participants in the market on the specified valuation date.

Carrying Amount

The book value of an asset or liability on a company's balance sheet, reflecting its original cost adjusted for any depreciation, amortization, or impairment costs.