Examlex
A chartered bank requires collateral in order to reduce the risk from borrowers defaulting on loans.
Acceptance Sampling
A statistical quality control method that inspects a random sample of goods to decide whether the entire lot meets the predetermined standards.
Representative
An individual or entity that acts on behalf of others or an entire group, in a specific capacity or role.
Central Tendency
A statistical measure that identifies a single value as representative of an entire distribution of data, commonly using the mean, median, or mode.
X-bar Chart
A type of control chart used in statistical process control for monitoring the mean values of a sample over time to detect any significant process changes.
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