Examlex
The following is an extract of a cost report for Big Whale Car Wash for the six months from June to November. Management considers the activities in these six months as within the relevant range for the purpose of cost estimation.
The car washing labour cost is a:
Original Sample
The initial group of participants or observations collected for analysis or experimentation before any manipulation or selection takes place.
Bootstrap Confidence Interval
A statistical technique for estimating the uncertainty of a parameter by resampling with replacement.
Percentile Method
A statistical calculation used to determine the value below which a given percentage of observations in a data set falls.
Resamples
The process of drawing repeated samples from observed data, with the aim of estimating a population parameter.
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