Yes, gross profit or net profit is important in considering if your company is successful and profitable. The main of a business within an economy is to earn profit from its operations and activities.
Net profit is the quantity of money your business earns after deducting all operating, interest, and tax fees over a given period of time. to reach at this cost, you need to recognize a business enterprise's gross profit. If the value of internet income is bad, then it's far known as internet loss.
How do you calculate your net profit?
Net profit is gross earnings minus operating expenses and taxes. You may also consider it as general profits minus all expenses.
What is net profit also referred to as?
Synonymous with internet income, net profit is a business enterprise's general earnings after subtracting all costs. Expenses subtracted consist of the prices of regular business operation as well as depreciation and taxes. Net profit is generally called a business enterprise's “bottom line” and is a true indicator of a business enterprise's profitability.
What's net profit and gross?
Gross earnings suggests how an awful lot money your enterprise makes after meeting a few prices. Net profit indicates how an awful lot you make after assembly all expenses. A business's gross profit is the money it has left after buying the goods and offerings it sold. Its internet income is the cash left after paying clearly all fees and taxes.
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Please select the word from the list that best fits the definition
actions or activities that one person performs for another
The term from the list that best describes actions or activities that one person performs for another is services.
A service business is one in which the buyer's perception of the value of the offering is mostly based on the services rendered to him rather than the products made available. All intangible services offered to the customer fall under this category. Restaurants and supermarkets are two examples of tangible services where customers receive both goods and services, and which fall under the umbrella of services marketing. The variety of services varies depending on how tangible and intangible the offerings are to the user. Some offerings are obviously services, such as watching a movie, visiting an art gallery, or attending a sporting event.
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Nearly every business relies on administrative support staff to complete vital tasks.
True
False
The statement "Nearly every business relies on administrative support staff to complete vital tasks." is True. Option A
This is further explained below.
What is business?Generally, An organization or entrepreneurial body that engages in commercial, industrial, or professional activity is what we mean when we talk about "doing business."
The Administrative Assistance Assistant is responsible for providing general administrative support to a broad range of academic or administrative units. In conclusion,
This support may include answering phones, greeting/referring/assisting guests, and other similar tasks.
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Reflect: In terms of dealing with workplace harassment, how effective do you think mandatory training in a school curriculum would be? Justify your answer.
Harassment prevention training raises awareness throughout the organization about what harassment is and the role employees can play in creating a safe and harassment-free work culture.
An effective curriculum provides teachers students school leaders and community stakeholders with measurable plans and structures for delivering quality education. The curriculum identifies the learning outcomes, standards, and core competencies that students must demonstrate before progressing to the next level.
Curriculum Evaluation Determines curriculum quality, program effectiveness, processes, and deliverables. Curriculum assessment is different from student assessment. A broader term is used to assess the value and effectiveness of a curriculum. The study room should have three areas. First, an area for loud brainstorming, an energetic area where the atmosphere is instantly electrified.
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In 2010 Casey made a taxable gift of $6.1 million to both Stephanie and Linda (a total of $12.2 million in taxable gifts). Calculate the amount of gift tax due this year and Casey’s unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.)
a. This year Casey made a taxable gift of $1 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made.
a. Assuming Casey was unmarried in 2015, the 2015 donation would have utilized $1 million of his relevant deduction amount (and paid tax on the gift above 10 million). Casey would have had an unused exemption equivalent to $4.43 million in 2015.
Current taxable gift $1,000,000
prior taxable gift $10,000,000
Cumulative taxable gift $11,000,000
Casey would be eligible for a credit for the tax on the 2010 gift computed using the 2015 tax rate schedule ($3.945,800), and he would utilize a portion of his leftover exemption equal to offset the remaining tax ($400,000) as follows:
Tax on cumulative taxable gift $4,345,800
Less: current tax on prior taxable gift ($3,945,800
Tax on current taxable gifts $400,000
Unified credit on current taxable gifts ($400,000
Gift tax due $0
Take note that Casey is in the highest marginal gift tax bracket, and that $1 million multiplied by 40% equals the gift tax on current donations of $400,000.
b. Casey utilized $1 million of his exemption equivalent in 2010, therefore he would have an unused exemption equivalent of $4.43 million in 2015. This indicates that the exemption equivalent will not cover $570,000 of the present donation ($5,000,000 - $4,430,000 $570,000).
Current taxable gift $5,000,000
prior taxable gift $10,000,000
Cumulative taxable gift $15,000,000
The unused unified credit is computed as the difference between the tax on the whole exemption equivalent and the tax on the utilized exemption equivalent:
Current tax on full exemption $2,117,800
Less: Tax on used exemption equivalent ($345,800)
Tax on current taxable gifts $1,772,000
Tax on cumulative taxable gifts $5,945,800
less: Current tax on prior taxable gift ($3,945,800)
tax on current taxable gift $2,000,000
unused unified taxable gifts ($1,772,000)
gift tax due $228,000
Take note that Casey is in the highest marginal gift tax bracket, and that $570,000 multiplied by 40% is a gift tax on current donations of $228,000. Casey will have no unused exemption equivalents at the end of 2015.
c. Casey and Helen would not owe any tax on their 2015 gifts if they used gift splitting. Casey and Helen will be considered as having contributed a $2.5 million gift each, and both fts will be entitled for an annual exclusion. As a result, Casey and Helen each gave $2,486,000 ($2.5 million - $14,000). Casey utilized $1 million of his exemption equivalent in 2010, thus he would have an unused exemption equivalent of 54.43 million in 2015 (a unified credit of $1,772,000, as computed above). Casey will compute the gift tax on his portion of the gift as follows:
current taxable gift $2,486,000
prior taxable gift $10,000,000
cumulative taxable gift $12,486000
tax on cumulative taxable gift $4,940,200
less: current tax on prior taxable gift ($3,945,800)
tax on current taxable gift $994,400
unified credit on current taxable gift ($994,400
Gift tax due $0
Casey is subject to the highest marginal gift tax rate, therefore the gift of $2.486.000 multiplied by 40% equals the gift tax on current donations of $994,400. Casey would still have an unused exemption equal of $1.944 million at the end of 2015 (5.43 million less $1 million spent in 2010 less 2.486 million utilized in 2015).
Helen will not have to pay any transfer taxes on her gift. Her donation will be tax-free since she has a $5.43 exemption equivalent available in 2015. Helen will have $2,944,000 of exemption equivalent remaining after applying the 2015 exemption equivalent ($5.43 million - $2.486 million)
What is an amount of gift tax due?In 2021, one may gift $15,000 to another in a year and generally not have to deal with the IRS about it. In 2022, this highest or peak amount that can be gifted is $16,000. If one gift more than $15,000 in cash or assets in a year to another, one needs to file a gift tax return.
Therefore, the correct answers are as given above.
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The complete question goes thus:
In 2010, Casey made a taxable gift of $6.1 million to both Stephanie and Linda (a total of $12.2 million in taxable gifts).
Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives.
1. This year Casey made a taxable gift of $1 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made.
2. This year Casey made a taxable gift of $5 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made.
3. This year Casey made a gift worth $5 million to Stephanie. Casey is married to Helen in a common law state, and the 2010 gift was the only other taxable gift he or Helen has ever made. Casey and Helen elect to gift split.
Financial statements of a manufacturing firm
The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
Purchased $230,000 of materials.
Used $165,600 of direct materials in production.
Incurred $414,000 of direct labor wages.
Incurred $165,600 of factory overhead.
Transferred $699,200 of work in process to finished goods.
Sold goods for $1,104,000.
Sold goods with a cost of $621,000.
Incurred $197,800 of selling expense.
Incurred $115,000 of administrative expense.
The Financial Statements of Sorensen Manufacturing Company for the first month of its operation are as follows:
Sorensen Manufacturing Company
Income StatementFor the month of January
Sales Revenue $1,104,000
Cost of goods sold 621,000
Gross profit $483,000
Selling expenses $197,800
Administrative exp. 115,000 312,800
Net income $170,200
Sorensen Manufacturing Company
Balance SheetAs of January 31
Accounts Receivable/Cash $1,104,000
Inventory:
Raw materials $64,000
Work in process 165,600
Finished goods 78,200 $307,800
Total assets $1,411,800
Liabilities:
Accounts payable $230,000
Factory Overhead payable 65,600
Selling expenses 197,800
Administrative expenses 115,000
Total liabilities $608,400
Equity:
Net income $170,200
Common Stock $633,200
Total liabilities and equity $1,411,800
Data and Analysis:Raw materials:Purchases or raw materials = $230,000
Direct materials used = $165,600
Ending inventory of raw materials = $64,400
Work in Process:Direct materials used = $165,600
Direct labor = $414,000
Factory overhead = $165,600
Total production cost = $745,200
Finished goods = $699,200
Work in process inventory = $46,000
Finished goods:Work in process = $699,200
Cost of goods sold = $621,000
Finished goods inventory = $78,200
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14. Why is it important to prioritize steps to solve a problem?
O It will ensure that you reach the best solution.
O It will keep people from complaining about the solution.
O It will help you decide which steps are most important.
O It will make the communication less confrontational.
It will help you reach a solution that will be as fair and reasonable as possible. :)
1.According to the "real-balances effect," if prices
A-increase, the purchasing power of assets will decrease, so spending at each income level should rise.
B-decline, the purchasing power of assets will rise, so spending at each income level should rise.
C-increase, the purchasing power of assets will rise, so spending at each income level should rise.
D-decline, the purchasing power of assets will decrease, so spending at each income level should rise.
.According to the "real-balances effect," if prices decline, the purchasing power of assets will rise, so spending at each income level should rise.
The real-balance effect is considered as one of the three basic effects which indicate why aggregate expenditures are inversely related to the price level.
The real-balance effect will work like this: A higher price level always decreases the purchasing power of the money which results in a decrease in consumption expenditures or investment expenditures or government purchases and net exports.
A lower price level will also have the opposite affect which will cause an increase in the purchasing power of money that results in an increase in consumption expenditures, investment expenditures, government purchases, and net exports.
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Describe the economic impact of inflation on both businesses due to raising or lowering the price of their products.
Demand-pull inflation takes place when an increase in the supply of cash and credit stimulates the overall demand for goods and services to increase extra rapidly than the economy's manufacturing potential. This increases call for and leads to rate rises.
Inflation is a trendy boom in the prices of products and offerings in an economy. When the general charge degree rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a discount inside the shopping strength of money.
Inflation is the price of increase in costs over a given period of time. Inflation is usually a large degree, along with the overall increase in fees or the increase within the price of living in a country.
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Sheila plans to use the same cover letter and resume for all her job applications so she can quickly apply to multiple jobs at once. What is the main problem with this approach?
A. She may get too many responses.
B. Employers prefer applicants to apply to one job at a time.
C. An error in one application will appear in all the applications.
D. Resumes and cover letters should be customized for each position.
Sheila plans to use the same cover letter and resume for all her job applications so she can quickly apply to multiple jobs at once. The main problem with this approach is resumes and cover letters should be customized for each position.
A cover letter serves as a company's initial introduction to you as a person.
While your CV will describe your prior job experience and skills, your cover letter will allow you to show recruiters your personal side. Employers get a large number of applications, many of which have similar backgrounds and experience.
A cover letter might assist them to filter down their candidate pool.
It customizes your application.
Even well-written resumes do not allow applicants to demonstrate their writing abilities.
By allowing applicants' characteristics to show through, a cover letter may help them sell themselves.
Recruiters gain an understanding of the individual beyond their professional experience and education.
It also allows them to talk about aspects of their past that may not be directly expressed on a resume.
Your cover letter, like your resume, should be customized to each position and organization.
Use industry-specific language that mentions points from the job description and company website instead of a template-style cover letter.
Hence, the problem is resumes and cover letters should be customized for each position.
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HELP ME!!
Write a reflection on career and income
Career and income are subjects that are correlated, due to the fact that income is a reward acquired through the services established within a function, which, when performed effectively, has a greater possibility of career development and, consequently, income.
Is income an indicator for career choice?Although the income associated with a particular career can be an indicator that leads professionals to seek qualification in that area, it should not be the focus of choosing a career, because each individual has a greater inclination towards a certain different professional area. , aligned to your profile, skills and desires.
Therefore, the appropriate career is one that is aligned with the individual and their inherent or acquired characteristics and skills, with income being a positive consequence of a job well done.
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Mrs Lopez is an independent agent
The statement that best describes the responsibilities of Ms. Lopez is: Ms. Lopez is considered a marketing representative of BestCare and thus is obligated to comply with CMS marketing requirements, including using only approved call scripts.
Who is a marketing representative?A marketing representative can be defined as someone whose duties is to advertise product to potential customers by creating brand or product awareness so as to attract buyers to the product.
Mrs lopez is a marketing representative of BestCare since we were told that Ms. Lopez tend to returns calls to individuals who contact MarketCo in response to its mailers promoting BestCare health plan.
Therefore the statement that best describes the responsibilities of Ms. Lopez is: Ms. Lopez is considered a marketing representative of BestCare and thus is obligated to comply with CMS marketing requirements, including using only approved call scripts.
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The complete question is:
Ms. Lopez is an independent agent under contract with MarketCo, a third-party marketing organization. MarketCo has a contract with BestCare health plan, a Medicare Advantage (MA) organization, to offer marketing services through its contracted agents and agencies. Ms. Lopez returns calls to individuals who contact MarketCo in response to its mailers promoting BestCare health plan. Which of the following best describes the responsibilities of Ms. Lopez?
Do you have what it takes to be an entrepreneur?
Answer:
i think so but im not sure i think i would make a great one
What is a reason why a business should be managed ethically?
Multiple Choice
a.It's the right thing to do.
b.It's the law in the United States.
c.Your employees demand it.
d.There are strict global regulations require it.
What is a reason why a business should be managed ethically?
Multiple Choice
a.It's the right thing to do.
b.It's the law in the United States.
c.Your employees demand it.
d.There are strict global regulations require it.
There are strict global regulations require it.
Operating profit is known as ________. Question content area bottom Part 1 A. earnings after tax B. earnings after interest and taxes C. earnings before interest and taxes D. earnings before depreciation and taxes
Operating profit is known as earnings before interest and taxes.
Profit describes the financial gain realized whilst sales generated from a business hobby exceed the prices, prices, and taxes concerned in sustaining the activity in query.
Profit is the money earned with the aid of an enterprise when its overall revenue exceeds its general expenses.
Any profit an organisation generates goes to its proprietors, who may also pick out to distribute the money to shareholders as earnings, or allocate it returned into the business to finance further enterprise increase. The technique of calculating earnings is straightforward: subtract an enterprise’s costs from its overall revenue over a set quantity of time.
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Identify each characteristics according to whether it applies to private or public companies or both
A private corporation is typically owned by its founders, management, or a collection of individual investors.
A corporation that has sold all or a portion of itself to the general public through an initial public offering is referred to as a public company.
What is difference between Private and Public Corporation ?
The way the two types of businesses approach public disclosure is one of the key distinctions. It is customary for a corporation to submit quarterly earnings reports to the Securities and Exchange Commission (among other things) if it is a public U.S. company, which means it trades on a U.S. stock exchange (SEC). The general public and shareholders have access to this information. However, as they do not trade shares on a stock exchange, private businesses are not compelled to disclose their financial information to anyone.
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Complete Question - Identify each characteristics according to whether it applies to private or public companies or both . If the property applies to neither structure , leave it unidentified .
Are managers actively involved in decision making of Eskimo
Answer:By involving others in the decision-making process, you create an opportunity for colleagues to share ideas, learn from each other, and work toward a common goal. In turn, you foster collaboration and help break down organizational silos
Explanation:
Answer:
no that are not because manager are the person who make u kick from job
Which of the following is an example of a "hidden task"
A. A graphic designer is trained to use a new type of design software.
B. The office manager maintains an inventory of office supplies because he knows employees need them.
C. The office manager proofread marketing material because she has excellent editing skills
D. The human resource manager stays up to date on laws regarding workplace safety.
An example of a "hidden task" is C. The office manager proofread marketing material because she has excellent editing skills.
What is a hidden task?A hidden task does not appear on the officeholder's task schedule.
A hidden task is done without a clear assignment. A hidden task forms part of a contingency management plan.
Training a graphic designer to use new design software is not a "hidden task." Maintaining an inventory of office supplies and being up-to-date on laws are not "hidden tasks."
By offering to proofread the marketing material based on her excellent editing skills, the manager shows flexibility with her schedule, notwithstanding that it was not an assigned task.
Thus, proofreading is an example of a hidden task that should be factored into a contingency management plan.
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What is the purpose of requiring contractors to pay overtime on government contracts?A.To allow workers to spend more time with their families
B.To discourage contractors from working on government contracts
C.To increase taxes paid by contractors
D.To encourage contractors to hire more workers
The purpose of requiring contractors to pay overtime on government contracts is D.To encourage contractors to hire more workers.
What is an overtime payment?Overtime payment is compensation compulsorily required by law, which employers must pay their workers for working beyond normal working hours.
As a compensation package, overtime payments encourage the workers to work more hours, ensuring that employers do not over-labor their employees without adequate compensation.
Paying overtime is not a requirement to discourage contractors, increase their taxes, or allow workers to spend more time with their families.
Thus, government contracts require contractors to pay overtime to encourage them to hire more workers instead of using overtime, which attracts a higher rate.
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what is bureaucracy from management point of view
Bureaucracy from management can be defined as the way in which the organization describes the way the task and the order are being maintained.
What is management?
Management can be defined as the process in which the managers manage various departments and take the action that is necessary for the running of the company.
Bureaucracy is a particular type of company that is characterized by structure, clear permanency, quality competence, administrative coordination and control, and legal power.
The power is regarded as the highest power and the decision will be made according to that only.
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What is an economic impact of sports and entertainment events on a community?
The economic impact of sports and entertainment events on a community is that major sporting events and entertainment have their main economic impact via the direct expenditure of tourists associated with the event.
A conducted research shows that the economic impact of sports and entertainment events on a community is major, as it leads to the creation of new jobs, increased sales in certain market segments, increased consumer spending, and increased tax revenue.
Sports are considered to be a telling reflection of a society's values, and so they are a significant contributor as well. Sports impact our culture, other sources of entertainment, and our economy via the direct expenditure of tourists associated with the event.
Hence, sports and entertainment have a great economic impact.
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Strategies for managing your time include:
A) turn off your cell phone
B) learn to say no
C) keep track of what distracts or derails you.
D) all of the above
Answer:
A and C
Explanation:
All are important but these are the TOP
You should know what distracts you and turn off the device, remove things etc..
Hope this helps<3
gaming the gamers case study answers
Studies have found a strong relationship between academic dishonesty and
Answer:
Studies have found a strong relationship between academic dishonesty and dishonesty at work. One way to say this is that the decisions you make when you're younger can often set the trajectory for the decisions you make when you're older.
What are some advantages and disadvantages for
small U.S. businesses competing in
today's global markets?
Some advantages of small U.S. businesses competing in today's global markets include the following: Access to New Customers; Lowering Costs and Diversification of Business Risk.
These are advantageous in the sense that the projections suggest that, within a few years, the total dollar value of trade across national borders will be greater than the total dollar value of trade within all of the world’s countries combined.
However, the disadvantages for small U.S. businesses competing in today's global markets are political risk; Economic Risk; and cultural risk.
What is a global market?Global market is the market in which goods and services of one country are traded to people of other counties. Global market trends is a market that implies the exchange of goods and services between people located in different areas of the globe.
Therefore, the advantages include access to new customers, lowering costs, and diversification of business risk. However, the disadvantages include political risk, economic risk, and cultural risk.
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Creating and following a budget will help prevent common college financial mistakes,
such as racking up credit card debt or misusing your loan money.
True or False
Answer:
True
Explanation:
Thats true, because when you know your budget, there will be less mistakes about money, you will know your ends.
why is it so important that the mouth and stomach are near the start of the digestive system
The process is important to finish the digestion and absorption once the foodstuff has been swallowed.
What is the digestive system?The organs aid in the body's foodstuff digestion and absorption helps compensate the digestive tracts. It is a lengthy, twisted tube with a mouth beginning and the withdrawal is with the help of the anus.
Saliva production happens inside the mouth. This salivary amylase molecule, which is found in charge of breaking down carbohydrates, is present in saliva. This is done with the help of the digestion the absorption of the various materials.
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The following balances are from the accounts of Santa Maria Parts:
July 1 (Beginning) September 30 (Ending)
Direct materials inventory $ 79,800 $ 97,400
Work-in-process inventory 72,600 40,200
Finished goods inventory 81,000 75,000
Direct materials purchased during the quarter amount to $510,000, and the cost of goods sold for the quarter was $1,770,000.
Required:
Prepare a cost of goods sold statement.
The Cost of Goods sold for the quarter contains $530,800 of material the complete statement is made as follows.
What is Cost of Goods sold?Beginning Direct Material $79,800
Beginning Work in process $72,600
Beginning Finished goods $81,000
Purchases during the period $510,000
Total balance available $743,400
Less: Total at end of the period $212,600
Direct Material $97,400
Work in process $40,200
Finished goods $75,000
Net Cost of Goods Sold for the period $530,800
Therefore the net cost of goods sold material cost is $530,800 and the difference between $530,800 and $1,770,000 is $1,239,200 includes the amount of labor, overheads and fixed costs that are directly attributable to the production of the goods and so are included as a direct cost in the cost of goods sold.
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common size statemnts are presented as percentages to promote comparisons between different size companies
This statement is True that common size statements are presented as percentages to promote comparisons between different size companies .
What are common size financial statements ?
Items are shown as a percentage of a common base amount, such as total sales revenue, in a financial statement of common size. This kind of financial statement makes it simple to compare one company to another or different time periods within the same company. However, any comparison could not be true if the organizations employ various accounting systems.
Total sales revenue is the usual metric used in the examination of an income statement of a typical size. The calculation of the common size percentages shows each line item as a percentage of the average amount or revenue.
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Complete Question - Common size statements are presented as percentages to promote comparisons between different size companies. This statement is True or False
According to the World View, what percent of the total population is serving in the military in
Currently, less than 0.5% of the population of the United States—or 1.3 million people—are on active duty.
A population is the entire set of people in a group, regardless of whether they are part of a nation or a collection of people who share a certain trait. The group of people from which a statistical sample is taken for a research is referred to as a population in statistics. As a result, a population can be defined as any collection of people who have something in common. Instead of the complete population, a sample may instead refer to a statistically significant fraction of the population. Because of this, a statistical analysis of a sample must provide an estimate of the standard deviation, often known as the standard error, of its findings from the full population. Only a population-wide analysis would be devoid of standard error.
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HOW TO START PROJECT
Answer:
eat tae tae tae tae tae tae tae tae tae taetaetae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae tae
Explanation:
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