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Tom draws a check, on his account in State Bank in New York, payable to Digital Media, Inc., in San Francisco. Digital deposits the check in its ac¬count at First National Bank. First National deposits the check in the Federal Reserve Bank of San Francisco, which transfers it to the Federal Reserve Bank of New York. That Federal Reserve Bank sends the check to State Bank.
-Refer to Fact Pattern 17-2.When Digital's bank received the check,it was required to pass it on
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data points, calculated as the square root of the variance.
Variance
A measure of the spread or dispersion of a set of data points, indicating how much the data varies from the average of that set.
Outliers
Observations in a dataset that significantly differ from the other data points, often indicating variability or errors.
1.5*IQR
A statistical calculation used to identify outliers. It involves multiplying the interquartile range (IQR) by 1.5 and applying this value above the upper quartile and below the lower quartile.
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