Examlex
i. A percentile divides a distribution into one hundred equal parts. ii. A student scored in the 85 percentile on a standardized test. This means that the student scored lower than 85% of the rest of the students taking the test.
iii. The interquartile range is the difference between the values of the first and third quartile, indicating the range of the middle fifty percent of the observations.
Independent Contractor
An individual in business for themselves, who provides services to others under terms specified in a contract or agreement.
Control Over Work
The authority to direct and manage how a job or task is executed.
IRS Determination
An official decision made by the Internal Revenue Service on a specific tax matter.
Principal-Agent Relationship
A legal relationship where one party (the agent) acts on behalf of another party (the principal) in business transactions.
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