Statistical Procedures

Acceptance Sampling
Acceptance sampling is a statistical procedure utilized in quality control that involves testing a batch of data to determine if the proportion of units having a particular attribute exceeds a given percentage.
Null Hypothesis (H0)
In statistical hypothesis testing, the null hypothesis (H0) is the default or initial statement assumed to be true, often stating that there is no effect or no difference. The null hypothesis is only rejected if the evidence from the data significantly contradicts it.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.