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Nongovernmental (private)colleges and universities follow FASB standards; governmental (public)colleges and universities should follow GASB standards.
Standard Deviation
An index quantifying how data varies in relation to the average, representing the range of data dispersal.
Normally Distributed
A statistical term describing data that follows a bell curve pattern, where most observations fall around the mean, and probabilities for values decrease as they move away from the mean.
Standard Deviation
A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.
Mean Age
The mean age of a specific group or population, determined by adding together the ages of all members and then dividing by the total number of members.
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