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What is a benefit of having an efficient supply chain?
Consistent Estimator
A statistical property where an estimator approaches the true parameter value as the sample size increases indefinitely.
Population Parameter
A value that represents a characteristic of an entire population.
Interval Estimate
An estimate of a parameter that provides a range of possible values within which the parameter is expected to lie, specified by a confidence level.
Population Parameter
A numerical characteristic that describes an aspect of a population, such as its mean or variance.
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