Random Variable What is a 'Random Variable' A random variable is a variable whose value is unknown or a function that assigns values to each of an experiment's outcomes. Random variables a

DefinitionIn statistics, sampling error is incurred when the statistical characteristics of a population are estimated from a subset, or sample, of that population. Since the sample does not

DefinitionIn statistics, sampling bias is a bias in which a sample is collected in such a way that some members of the intended population are less likely to be included than others. It resu

DefinitionIn statistics, a sampling distribution or finite-sample distribution is the probability distribution of a given random-sample-based statistic. If an arbitrarily large number of sam

Standard Deviation In mathematics, standard deviation is the degree of the dispersion from a set of data’s mean. The SD is higher when the data is more stretched. In other terms, the squar

Cancellation What is 'Cancellation' A cancellation is a notice made by a broker, to his client, informing him an erroneous trade was made and is being rectified. Despite the fact technolog

Waiver Of Demand What is 'Waiver Of Demand' An agreement by the party that has endorsed a check or draft to accept legal responsibility, without being formally notified, should the origina

Waiver Of Notice What is 'Waiver Of Notice' A legal document that waives the right to formal notification. It may be used in a number of situations, such as during the process of probating