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Which of the following statements is true about designing, creating, and implementing a new business process?
Parameter
A numerical characteristic that describes a statistical population; it's a fixed value, though often unknown.
Sampling Distribution
The probability distribution of a statistic based on a large number of samples or simulations.
Nonnormal Population
Refers to a population that does not follow a normal distribution, which can affect the choice of statistical methods used for analysis.
Sample Measurements
Observations or data collected from a subset of a population for the purpose of statistical analysis.
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