When you apply for or start a new job, you’ll likely discover an extensive vocabulary that you’ve never encountered before. Understanding these terms is not only important to succeeding in the workplace, but it’s also vital to understand what exactly you’re getting into in a new position.

To help you, we’ve created a series of guides that define common workplace terms, give you examples of when you’d use or encounter them, and walk you through how to put them into practice.

In our glossary guides, you’ll learn:

  • The basics of management principles.

  • Overviews of the employment laws that affect you.

  • The definitions of and how to calculate mathematical values such as gross monthly income.

  • The differences and similarities between similar-sounding terms.

How to Give and Take Constructive Criticism

Featured Article

The 10 Best Lending Companies To Work For In New Jersey

Even if you enjoy your actual job, the company you work for can make or break your overall satisfaction at work. Because of this, it’s important to find employers that will treat you well and provide plenty of career opportunities. To help you with this, we’ve put together a list of ten of the best […]

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How to Give and Take Constructive Criticism

How To Give And Take Constructive Criticism (Definition, Tips, And Examples)

Constructive criticism is a positive and productive way to provide and receive feedback that suggests specific, actionable recommendations.

How to Calculate Growth Rates

How To Calculate Growth Rates (With Examples)

To calculate growth rates, you can use the straight-line method, the midpoint method, or calculate the average over time.

How Do You Find the Average of Percentages?

How Do You Find The Average Of Percentages?

To calculate the average of percentages, turn the percentages into decimal numbers, add them together, and divide that sum by the sum of all the sample sets.

How to Write a Scholarship Thank-You Letter (With Examples)

To write a thank-you letter for a scholarship, open with a straightforward "thank you," being sure to mention the particular scholarship, then move into an explanation of who you are and how this scholarship will impact you.

How to Calculate Marginal Utility (With Examples)

How To Calculate Marginal Utility (With Examples)

To calculate marginal utility, take the change in total utility and divide it by the change in units.

How to Calculate Probability

How To Calculate Probability (With Examples)

To calculate probability, divide the number of ways the event can occur by the total number of outcomes.

Glossary Highlighted Articles

Problem Statement: What It Is And Examples

A problem statement is a document that evaluates and explains a specific issue or condition that should be addressed.

Quarter-Life Crisis: What Is It And How To Handle It

Many people in their mid-twenties and thirties experience feelings of disillusionment or confusion and begin a period of intense soul-searching -- this is called a quarter-life crisis.

To calculate inflation rate: ((Current CPI - Past CPI) / Current CPI) x 100 = Inflation Rate CPI = Consumer Price Index

How To Calculate The Inflation Rate (With Examples)

To calculate the inflation rate, subtract the past cost of an item from its current cost, and divide that result by the past cost.

Efficiency vs. Effectiveness

Efficiency Vs. Effectiveness: What’s The Difference? (With Examples)

Efficiency is doing things the right way, while effectiveness is doing the right thing. Something is effective if it produces the intended result, whereas it is efficient if it functions with the least use of resources.

How to Calculate Gross Monthly Income

How To Calculate Gross Monthly Income (With Examples)

Summary. How you calculate your gross monthly income as an individual depends on whether you are paid an annual salary or an hourly wage. When you calculate gross monthly income for a business it depends on the revenue traffic that’s coming into the company. Gross income for both a business and an individual follows your […]

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What Is Debt-to-Income Ratio (DTI)? (And How To Calculate It)

Summary. Your debt-to-income ratio (DTI) is the percentage of your gross monthly income dedicated to paying off debts. Potential lenders, such as banks, use your DTI to estimate the monthly payments you’ll be able to handle, as well as how likely you are to pay them back. Whether you’re gearing up to buy a new […]

What Is A Cost-Benefit Analysis?

What Is A Cost-Benefit Analysis?

Summary. A cost-benefit analysis allows you weigh the costs versus the benefits of a decision or project to make sure that it’s worth your time and money. It is a methodical approach to decision-making that helps you identify the best course of action to take. The projects a company decides to take on can play […]

What Is Autocratic Leadership?

Summary: Autocratic leadership, also known as authoritarian leadership, is a style of management where one person has control over all decision-making, with little to no input from others. It can be found in organizations that desire immediate or highly directed decision-making. Is your workplace an autocratic one, or does it use an authoritarian leadership style? […]

How To Calculate Full-Time Equivalent

How To Calculate Full-Time Equivalent (With Examples)

Running a business involves a lot of paperwork, and that paperwork often includes a significant number of acronyms. One acronym you’ll likely encounter when you start hiring employees is FTE, or full-time equivalent. In this article, you’ll learn what FTE is, why it’s important, and how to calculate it. Key Takeaways Companies use FTE to […]

What Is Organizational Development?

What is organizational development, or OD? why is a company using it, and how does it affect the people who work or function within the organization? These are common questions when people hear that organizational development is going to occur. The two words sound familiar, and you can glean what they mean independently, but when […]

Understanding Participative Leadership

There’s no doubt you’ve already had the importance of workplace leadership drilled in your head. You know it’s valuable, but what you might not know is that there are actually different styles of leadership. You can express critical leadership, consultation leadership, or participative leadership. The latter on that list, participation leadership, is great for building […]

What Are Retained Earnings?

Whether you are a founder, an investor, or an accountant, retained earnings are an important concept to know and understand. Retained earnings refer to the amount of net income remaining after a company has paid out dividends to its shareholders. Retained earnings refer to the portion of a company’s earnings after these dividends have been […]

Easy Guide On How And Why To Prorate Salary (With Examples)

Whether you’re an employer hiring a new worker or a job-seeker starting a new position, understanding the complexities of a prorated salary is essential to avoiding hiccups during the hiring and onboarding process and throughout the duration of an employee’s career. Typically, employers across every professional industry will eventually be tasked with prorating an employee’s […]

Attrition: What Is It? (With Examples)

Attrition: What Is It? (With Examples)

Attrition is a common part of the business world, and it can be both a strategy and a stumbling block for your organization. Because of this, it’s important to have a thorough understanding of what attrition is. In this article, we’ll explain everything you need to know about employee and customer attrition, including how to […]

Gender Discrimination And Bias In Job Descriptions

Unconscious gender bias in job descriptions, and job classifications, in particular, is a contributing and leading factor in the discrimination of female professionals across the country and around the world. Although conscious, or explicit, bias, like racism, isn’t commonly seen in job descriptions thanks to affirmative action and laws put in place and enforced by […]

Management: What Is It And Examples

Management roles exist in every company across industries, but what does being a manager really entail? While managers’ specific responsibilities can change depending on their career field and expertise, the best managers have a few common skills and qualities. One of the great draws of pursuing a career in management is that managers are always […]

How To Calculate Operating Cash Flow (OCF)

How To Calculate Operating Cash Flow (OCF)

When you own a business, there are many terms you’ll have to learn in order to get a thorough understanding of the financial health of your company. One of these is operating cash flow (OCF). In this article, we’ll explain what operating cash flow is, how to calculate it, and the differences between OCF and […]

Understanding Bargaining Power In Business

Who has the power in a negotiation? It will vary from negotiation to negotiation. There are a number of factors that will determine how much bargaining power each party holds. Simple things like relevant knowledge can tip the scales one way or the other. Buyers will always attempt to negotiate the best deal with the […]

Understanding Cost Of Capital (With Examples)

Understanding Cost Of Capital (With Examples)

While coming up with something new for your company is exciting, you’ve got to convince everyone else that it’s worth it by proving that there will be a return on investment. After all, other members of your company will want to ensure that all of everyone’s hard-earned money is going to a good place. That’s […]

Emotion Wheel: What It Is And How To Use It

Humans experience a range of emotions through out their lives. They can feel one thing at one moment and in the next moment they can feel something else. With so many emotions, you might be wondering how anyone can navigate these emotions without getting overwhelmed. The answer is simple, with an emotion wheel. In this […]

How To Calculate Odds (With Examples)

No doubt, betting can be a nerve-wracking process. Regardless of what you’re betting on, you want to make money, not lose it. That’s why it’s important not to go in blind. After all, your money’s on the line! Given that, understanding odds is your first step toward betting success. Instead of going into the casino […]

What Is Operating Capital? (With Examples)

When you’re starting your own business, you’ll likely find that there are a million technical terms you need to be familiar with. While you should always rely on experts to help you truly understand these principles, especially when finances and legal compliance are concerned, doing some of your own research can help you get a […]

Understanding The Difference Between Equality And Equity

In recent years you’ve more than likely heard someone talk about equality and equity. Maybe you’ve even seen the well-known baseball field image that highlights the difference between the two. But, what does it all mean? After all, the differences between equality and equity can have major implications for the way a workplace, school, or […]

Shareholder Equity: Definition And Examples

It’s important to analyze a company’s balance sheets before making any significant investment in them. However, you may not understand the specific terms on their balance sheets mean or represent. This article focuses on one of the most common of these terms — shareholder equity. We’ll discuss what shareholder equity means and how to calculate […]

What Are The Communication Styles?

What Are The Communication Styles?

Being a great communicator is one of those soft skills that all employers love. Learning about the different communication styles can help you develop your communication skills and be better at understanding others. In this article, we’ll go over the four main communication styles, as well as how to identify and improve your communication. We’ll […]

What Is Competitive Strategy?

It can be difficult to find the right competitive market in today’s saturated business landscape. So, how does a business survive in this highly competitive world of niche markets and constant innovation? By implementing a competitive strategy — This is especially important for businesses working in oversaturated markets that are overflowing with unique options for […]

3 Modes Of Thinking

How do you solve problems? This is a question that might come up at a job interview and leave you wondering what they’re asking. You solve them well, right? But that’s not what they want to know. The interviewer is interested in your approach to solving a problem and how your brain works. Key Takeaways: […]

What Is Collective Bargaining?

What Is Collective Bargaining?

Collective bargaining is an often controversial but effective method to ensure fair working conditions for employees in a variety of industries. In this article, we’ll discuss what collective bargaining is, who it affects, and its pros and cons. We’ll also share U.S. laws that may impact your employment terms and information on how collective bargaining […]

Understanding The Budgeting Process: Complete Guide

Without a budget, a business can’t track how much of its revenue is profit. As a result, expenditures will be scattered and unclear. Without a budget, a business can’t determine its financial health. Not really. A budget gives a detailed estimate of income and expenditures over the budget period. It allows businesses to identify potential […]

What Does White-Collar Mean? (With Examples)

When entering the work force you may hear the terms “white-collar”, “blue-collar”, and “pink-collar” thrown around when people talk about their careers. You might be thinking to yourself “what does that mean? Is it the color of shirt they wear?” To answer your question, it means what type of career they are in. The different […]

What Is A Contingent Worker?

Finding the right work situation for you or your organization can be a difficult task. It can be hard to know the extent of work options available to you and even harder to discern the difference between them and choose one that works best. One area of confusion can lie in the difference between employment […]

The Glass Ceiling And How To Shatter It

Most children spend their early years being told that they can grow up to be anything they want. Whether they aspire to be a teacher, dog trainer, or CEO, any goal could be achievable given the right amount of effort. Unfortunately, once adulthood is reached, this isn’t always the case for everyone in the professional […]

What Is Strategic Leadership? (With Examples)

The world needs leaders, but not all leaders fill the same role. Some are thought leaders, pushing the bounds of philosophy, while others are cultural leaders, propelling societies forward in art, music, and communication. Still, others are operational leaders who ensure that processes and systems are functioning as they’re supposed to and that the people […]

Human Resources (HR): What Is It And What Is It For?

A human resource is one individual of many who helps to form an organization’s team. This could be in any organization (nonprofit, government, etc.), but it typically refers to a corporate workforce. While some companies may spread human resource duties across different departments in lieu of a dedicated HR team, human resource departments are people-focused […]

Understanding Situational Leadership

Building strong leaders is a primary path to business growth, industry development, and increased profitability. Using practical leadership tools, like the styles, values, and methodology of situational leadership, can be a surefire way to substantially increase professional success and efficiency at work. Understanding effective and proven leadership strategies are the first step in becoming a […]

Dislocated Workers (Definition, Examples, and FAQ)

Dislocated Workers (Definition, Examples, and FAQ)

Unfortunately, it is possible lose your job for reasons that have nothing to do with your work performance or desire to work for the company. When this occurs, you’re referred to as a dislocated worker. Dislocated or displaced workers are a unique type of unemployment and are even entitled to certain government benefits while they […]

Passive Vs. Non-Passive Income: What’s The Difference?

All income is not created equal in terms of how it is accumulated. The money you earn to support the needs of your lifestyle is grouped as being either passive or non-passive income. Deciphering the difference between passive and non-passive income is critical come tax season, but it can also aid you in figuring out […]

Margin vs. Markup: What’s The Difference?

For business owners, or employees working in the finance department, understanding the difference between a margin and a markup is absolutely essential. Unfortunately, many business owners don’t know the difference between these two accounting terms and incorrectly use them interchangeably. Confusing the terms or lacking the knowledge to properly calculate them can result in a […]

Job Vs. Career: The Differences And How To Turn A Job Into A Career

When applying for positions and planning for your future, it’s important to know whether you’re pursuing a career or simply a job. Many people use the two words interchangeably, but they don’t necessarily mean the same thing. In this article, we’ll explain the differences between a job and a career. We’ll also discuss how the […]

Nurse Vs. Nurse Practitioner

If you’re a current or prospective healthcare worker, you might be wondering what the difference between a Nurse and a Nurse Practitioner (NPs) is. After all, even though both positions essentially have the same title, each represents a different stage in someone’s nursing career. That means different education requirements, different tasks, and different levels of […]

Form W-9 Vs. 1099: What’s The Difference?

As a business owner or independent contractor, you’ll need to know how to properly file tax information with the IRS each year. Tax forms W-9 and 1099 both relate to independent contracting work, but most people don’t fully understand their differences. In this article, we’ll explain exactly what the two forms are and how they […]

Generalists Vs. Specialists

Generalists Vs. Specialists

If you look at a company’s employees, you’ll probably notice that some of them are good at handling a wide variety of tasks, while others are extremely good at one particular task. The first group is business generalists, while the second group is specialists. In this article, we’ll go over what these types of professionals […]

Registered Nurse (RN) Vs. Nurse Practitioner (NP)

Registered Nurse (RN) Vs. Nurse Practitioner (NP)

Most people know that nurses are a vital part of the healthcare industry, but many people don’t realize that there are multiple types of nurses. Two of these are registered nurses (RN) and nurse practitioners (NP). In this article, we’ll go over what RNs and NPs are, the certifications you need to become an RN […]

Nurse Practitioner vs. Physician Assistant: What’s The Difference?

Healthcare professionals seeking a well-paying career are often torn between two similar positions: nurse practitioners (NPs) and physician assistants (PAs). The two roles share many similarities, to the point of frequently competing for the same positions. Both are independently licensed providers and work in the collaborative healthcare teams that work closely with physicians. Additionally, both […]

What Is Imposter Syndrome? (And How To Overcome It)

Have you ever felt like a fraud? You’re not alone. Over 70% of people suffer from imposter syndrome at some point in their careers. From recent graduates working their first job to seasoned experts, imposter syndrome is all too common. In this article, we’ll cover what imposter syndrome is, the different forms it takes, how […]

Earnings Per Share (EPS): Definition And Examples

Before making investment decisions, it’s important to understand what the terms commonly thrown around by analysts and listed on a company’s balance sheet really mean. In this article, we’ll focus on Earnings Per Share (EPS). We’ll discuss what the term means and how to calculate it, the different types of EPS, and important tips for […]

Defining The 9 Types Of Intelligence

We’ve all had moments where we felt inadequate — questioning why we failed that test when our friend passed or why we struggled to understand a class lesson. While that feeling is always disheartening, it’s also missing the bigger picture. Though you may struggle in certain areas, you may have strengths in others. There is […]

Types Of Communication (With Examples)

Every job requires some form of communication. Whether you’re a farmer, a writer, a software engineer, or a construction worker, our interconnected economy relies on effective communication to achieve your vast array of needs and wants. You may not even realize how often you use communication at your job. This is because there are different […]

Workplace Nepotism: What To Look For And How To Handle The Situation Professionally

Nepotism is hardly uncommon in the workplace. It may not be illegal—‌though some states do have conflict of interest laws—‌but it can be immoral. It does more than damage the office morale too. Nepotism in the workplace can open up trouble for the company as well with potential lawsuits and complaints. There is a difference […]

Accounts Payable Vs. Notes Payable

Accounts Payable Vs. Notes Payable: What’s The Difference?

Loans (also called liabilities) are a part of everyday operations for businesses, so they put accounting systems in place to differentiate between each type of liability. Two of the most common liability accounts are accounts payable and notes payable, and while these have a lot in common, they’re actually used for two different purposes. In […]

How to Calculate Weighted Average

How To Calculate Weighted Average (With Examples)

Many jobs across multiple fields require the calculation of weighted averages, as they often provide a more accurate picture than simple averages. It’s important to know how to calculate a weighted average, and while this may sound like a tall order if you don’t call yourself a mathematician, it’s actually simpler than you may think. […]

8 Ways To Gain Access to The Hidden Job Market (With Examples)

There comes a point in a job seeker’s search for the perfect position that they wonder if they’re missing something. They’ve been spending their days on job board websites like it’s a full-time position, yet still left empty-handed when it comes to job offers or even interview requests. They begin to worry that the viable […]

How To Calculate Margin Of Error

How To Calculate Margin Of Error (With Examples)

When it comes to analyzing career statistics, conducting customer polls and surveys, reviewing staff questionnaires, and more, the margin of error can be a telling figure. As a result, it’s important for professionals in any line of work to be able to understand margin of error and how to calculate it. To help you with […]

How To Calculate Time And A Half

How To Calculate Time And A Half (With Examples)

If you’ve ever worked overtime hours in an hourly job, it’s likely you’ve seen the term “time and a half,” which refers to the extra money you’ll make during those hours. Knowing how to calculate time and a half is a good skill to have whether you work in payroll or are simply trying to […]

A Guide To The Double Declining Balance (DDB) Depreciation Method

A Guide To The Double Declining Balance (DDB) Depreciation Method

If you’ve ever wondered why your shiny new car takes a huge value hit the first few years you own it, you’re not alone. This form of accelerated depreciation, known as Double Declining Balance (DDB) depreciation, is actually common method companies use to account for the expense of a long-lived asset. This article will serve […]

What Is Authoritarian Leadership?

A company’s leadership can determine its success. Successful companies understand the importance of quality leadership. Authoritarian leadership is a style of management that is common throughout history and even to the present day. Key Takeaways: Authoritarian, also known as autocratic, leaders manage every aspect of decision-making and implementation. Control and discipline are highly valued by […]

21 Guilty Pleasures We Won’t Be Giving Up Anytime Soon

Guilty pleasures can come in many shapes and sizes. For example, you may be prone to spending Sundays cozying up with your cat on the couch to watch all-day reruns of early 2000s reality shows. Whatever your guilty pleasure might be, recognizing its existence can help you ensure that a harmless delight doesn’t become a […]

What Is Annual Percentage Rate (APR)? (With Examples)

Your annual percentage rate (APR) is the interest rate paid each year on your loan, credit card, or another form of credit. Borrowing money from an institution has a cost to it. Banks and other financial institutions charge a certain percentage of the money borrowed from them to make a profit. APR is a percentage […]

How To Calculate Debt To Asset Ratio (With Examples)

Understanding the debt to asset ratio is a key part of a company staying afloat financially. It tells you how well a business is performing financially and if it can afford to continue or needs revaluation. The debt to asset ratio creates a picture of the debt percentage that makes up an asset portfolio. Correctly […]

Colleague Vs. Coworker

As you go about your professional life talking to people around your office, reading emails, or engaging in networking events, you’ll likely hear the terms “colleague” and “coworker” thrown around somewhat interchangeably. When it comes time for you to use these terms, though, how do you know which one to use? Does it matter? Keep […]

How To Calculate The Correlation Coefficient (With Examples)

Correlation does not imply causation. It is a commonly used phrase, one you’ve more than likely heard at one point or another. It means that a cause-and-effect relationship cannot be determined just because there is some observed correlation between two variables. We can’t infer causation simply because there is some degree of correlation. We may […]

Your Guide To Pay For Performance Compensation

Your Guide To Pay For Performance Compensation

When you’re considering a job offer, one of the most important things to make sure you understand is the position’s pay structure. A common term you might come across when looking into this is “pay for performance compensation.” In this article, you’ll learn what pay for performance compensation is as well as its advantages and […]

How To Calculate Profit Margin (With Formula & Tips)

Profit margins are one of the most widely used financial ratios in the corporate finance industry. A business calculates its profit at three levels on its income statements. This starts with the most basic profit, gross profit. Next is operating profit, and last, and most comprehensive, is net profit. All three of these profits have […]

What Is A Letter Of Transmittal? (With Examples)

Important documents pass between people in professional settings all of the time. Sometimes these documents require the recipient to take some kind of action, like signing them. In these cases, including a letter of transmittal is a great way to ensure that your recipient knows what needs to be done. Other times, there’s no necessary […]

What Does Blue Collar Mean?

What Does Blue Collar Mean? (With Examples)

When you’re looking at all of your options for different careers, you’ll probably hear the term “blue-collar” at some point. In this article, you’ll learn what this term means, some examples of blue-collar jobs, and the pros and cons of working in a blue-collar job. You’ll also learn about labor unions, the high demand for […]

How To Calculate Total Variable Costs: Examples And Formulas

Cost is one of the most significant factors to determine success when running a business. If you want your business to be profitable, understanding variable costs is a key component to ensuring that happens. However, variable costs can sometimes be too abstract for people to wrap their heads around at first glance, especially if they […]

How To Calculate Annual Net Income (With Examples)

Before you make any career decisions, it’s important to have an understanding of your finances. One key element of knowing your finances is being able to calculate your net income, or NI. Determining your net income is crucial to understanding your financial situation. While net income is related to your salary, it takes other factors […]

What Is Percent Yield And How To Calculate It? (With Examples)

When taking the pharmaceuticals that bring us back to full health, we rarely stop to think about what went into making them. Before becoming a tiny white pill that obliterates a headache in a matter of hours, a series of chemical processes took place first to create it – under the observation of a trained […]

How To Calculate Fixed Cost (With Examples)

When you manage a business, it’s important to keep track of expenses. Your revenue subtracted by your expenses gives you your net profit, an important measure of how things are going. Your expenses can be broken down into two main categories — fixed cost and variable cost. Fixed costs are your expenses that are not […]

How To Calculate Consumer Surplus (With Examples)

Understanding economic supply and demand provides valuable insight into any given market. You’ve probably seen a basic demand-supply graph used to illustrate the relationship between a product’s market price and the quantity demanded by consumers. Consumer surplus and producer surplus are important pieces of the equation. Markets tend to fluctuate, especially because consumers are able […]

Nurse Anesthetist vs. Anesthesiologist

The main differences between nurse anesthetists and anesthesiologists are: Education. It typically takes 12 years of education, including undergraduate school, medical school, and time in a residency program, to become an anesthesiologist, while it takes between 6-8 years to become a nurse anesthetist. Job duties. An anesthesiologist has much more authority in directing the administration […]

Nurse Practitioner Vs. Doctor

The main differences between nurse practitioners and doctors are: Education: Doctors earn an MD and complete a residency, combining for a total of 10-14 years of education. Nurse Practitioners need to pass the NCLEX, pursue an MSN or DNP degree, and possibly complete a residency, combining for a total of 6-8 years of education. Patient […]

The Different Types Of Variables Used In Research And Statistics

Scientists and statisticians conduct experiments on a regular basis. Scientists use these experiments to identify cause and effect, while Statisticians use variables to represent the unknown or varied data in their experiments. Determining which variables to use is vital to the experiment. Also, choosing the right variables will lead to clearer analyses and more accurate […]

How To Calculate Z-Score

How To Calculate Z-Score (With Examples)

Whether or not you enjoyed your statistics class in high school, statistical concepts are everywhere in the business and academic worlds. One of these commonly used concepts is a z-score, also called a standard score. In this article, you’ll learn what a z-score is, how to calculate and interpret one, and how they’re used in […]

How To Calculate Percentage Change (With Examples)

If you’ve ever wondered how much “$10 off your next purchase” really means, or how to compare the hours you worked last week to your overtime hours, percentage change might just give you some insight. After all, percentages are useful because they allow us to compare relative quantities of groups, and in the case of […]

A Guide To Understanding Sustainable Advantage (With Examples)

We all know how competitive and repetitive the market is, from thousands of similar candles posted on craft sites to dozens of off-brand chip clones in the grocery store. No wonder companies struggle to stay ahead. However, there are ways that businesses can stand out from the crowd. It’s all about having the right strategy, […]

Understanding Marginalization In The Workplace

If you’ve ever heard the term Marginalized and wondered: “What exactly does that mean?” You’re not alone. Especially in the workplace, marginalization can have major implications for the way certain employees are mistreated. Not only that, but this mistreatment can often be unlawful. So, knowing that, this article will define marginalization, as well as outline […]

What Is The Sample Mean? (With Examples)

Little is more crucial to the growth and success of a business than their statistical analysis efforts. It provides information that’s needed to formulate strategic planning and decision-making. The foundation of statistics is rooted in utilizing samples to offer predictions that can apply to larger populations. Referring to the sample mean is a stepping stone […]

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How To Calculate Price Elasticity Of Demand (With Examples)

Every product on the market has its fluctuations in demand. Understanding a product’s demand is crucial for setting an appropriate price point and making sales. Many businesses struggle to define the price of their product because even the slightest miscalculation sends consumers running in the other direction. That’s the battle of price elasticity of demand. […]

How To Calculate Depreciation (With Examples)

Many people prefer to leave anything involving their taxes to an accountant, but becoming familiar with a few key terms and situations could help you in the future. Taxes become a much more interesting subject when it enables you to save lots of money with deductions. One of the most useful aspects to attempt to […]

How To Calculate Operating Income (With Examples)

Balancing your expenses and income is an important part of any successful business. Regardless of the type of business you’re running, you have to make sure you’re earning more than your spending. Well, given that managing your income and expenses is an important part of your success, you should consider calculating your operating income regularly. […]

How To Calculate Confidence Interval (With Examples)

Assuming you’re searching for an apartment in a new city, and you happen to find a local survey that had randomly sampled a hundred apartment advertisements and determined with 95% accuracy that the price range for one-bedroom apartments in the area is $845-$1155. In this example, the confidence level, which is usually represented as a […]

How To Calculate Opportunity Cost (With Examples)

There’s no doubt that investing can be a nerve-wracking and tricky business. However, with the right precautions, it can also be extremely profitable. To minimize risks and maximize profits, investors often use various tricks of the trade to calculate and compare potential decisions. One of these valuable tools is comparing one economical choice to the […]

How To Calculate Cost of Goods Sold (With Examples)

When it comes to running a business, the list of expenses to track is endless. You need to know the cost of payroll, marketing, supplies, rent, commissions, and the cost of goods sold, among others. If you work in management or accounting or run your own business, you have likely come across the term “cost […]

How To Calculate AGI (Adjusted Gross Income)

Understanding what adjusted gross income is and calculating it accurately is essential for working professionals across all industries and professions. No matter your title or job, solidifying your grasp and comprehension of adjusted gross income can help you avoid headaches when tax season rolls around and even saves you serious cash. Ask any accountant or […]

How To Calculate CPI (Consumer Price Index)

Inflation is a common concern among corporate executives, small business owners, hardworking employees, and government leaders. The annual rate of inflation, or the level at which the value of a certain currency is falling and the prices for certain goods and services are rising, has been a common household discussion for decades. In the United […]

Key Performance Indicators (KPI): Everything You Need To Know

Most people have heard the term key performance indicators, or KPIs, floating around the office. If you are a team manager, there’s a very good chance you’re familiar with this term. They are a commonly used management tool. Thousands of key performance indicators can help your organization, or your department, reach its goals. As your […]

How To Calculate Simple Interest (With Examples)

Calculating simple interest is a staple in an adult’s basic financial skills toolbox. The formula and solving for interest is straightforward and it’s useful for a bunch of complex fiscal situations that a person comes across in their lifetime. Understanding how to find simple interest and its use in the world helps to navigate the […]

What Is Economic Demand?

The economy is a diverse system laced with systems within systems. Such Inception-like layers make us appreciate the many different factors that are important to the economy. In some cases, these factors can affect the economy in meaningful ways due to their complex intertwined relationships. For example, we say the economy is doing well when […]

How To Calculate Percentiles (With Examples)

Whether you enjoyed math classes or not, your math teachers weren’t lying when they said you’d use the things you were learning in the future. Even though most people don’t use the complex formulas and algebra equations they learned in high school in their daily lives, some smaller facets of math come in handy, especially […]