Examlex
Suppose a 90% confidence interval for the mean time it takes to serve a customer at a drive-in bank is 120 seconds to 220 seconds. In repeated sampling 90% of the intervals constructed using the appropriate formula will contain the actual mean time.
List Price
The manufacturer's suggested retail price for a product, before any discounts or allowances.
Small Changes
Minor modifications or adjustments made to processes, products, or behaviors, often with the intention of improving efficiency, quality, or outcomes.
Company Profit
The financial surplus generated by a company after all operating expenses, including production costs, taxes, and overheads, have been deducted from total revenue.
Fare
A price paid for transportation.
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