WORK IN PROGRESS Definition

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WORK IN PROGRESS a piece of work that is not yet finished.

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UNDERLYING is the security, cash commodity, forward, futures contract, swap, or other contract or instrument that is the subject of a derivative contract or instrument.

STATISTICAL is making inferences in uncertain situations using applied mathematics. Measurements from a small group (the sample) are used to infer the behavior of a larger group, the population. Probability theory determines how well the sample represents the population.

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