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In business and for engineering economics in both industrial engineering and civil engineering practice, the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk and the opportunity cost of forgoing other projects. [1]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
A synonym is a word, morpheme, or phrase that means precisely or nearly the same as another word, morpheme, or phrase in a given language. [2] For example, in the English language , the words begin , start , commence , and initiate are all synonyms of one another: they are synonymous .
Benefit shortfall – When the actual benefits of a venture are less than the projected or estimated benefits; Downside risk – Risk of the actual return being below the expected return; Efficient contract theory – Hypothesis that if a contract continues to exist it must be efficient due to survivorship bias
For example, mean income is typically skewed upwards by a small number of people with very large incomes, so that the majority have an income lower than the mean. By contrast, the median income is the level at which half the population is below and half is above.
It is remarkable that the sum of squares of the residuals and the sample mean can be shown to be independent of each other, using, e.g. Basu's theorem.That fact, and the normal and chi-squared distributions given above form the basis of calculations involving the t-statistic:
In an inequality, the less-than sign and greater-than sign always "point" to the smaller number. Put another way, the "jaws" (the wider section of the symbol) always direct to the larger number. The less-than-sign is sometimes used to represent a total order, partial order or preorder.
Any definition of expected value may be extended to define an expected value of a multidimensional random variable, i.e. a random vector X. It is defined component by component, as E[X] i = E[X i]. Similarly, one may define the expected value of a random matrix X with components X ij by E[X] ij = E[X ij].