The Institutes Glossary


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An algorithm in which “k” equals the number of nearest neighbors plotted on a graph.
A statistic that evaluates the association of two measured quantities.
A qualified retirement plan for self-employed business owners and professionals (sole proprietors and partners) and their employees.
An employee whose loss to a firm through death or disability before retirement would have economic effects on the company.
Financial or nonfinancial measurement that defines how successfully an organization is progressing toward its long-term goals.
Are financial and non-financial metrics used to help define and measure progress toward organizational goals. (KPIs) are delivered through Business Intelligence (BI) techniques to assess the present state of risk and to assist in prescribing a course of action.
An individual whose special talents, skills, relationships, and/or experience are crucial to the success of a business entity.
A federal estate taxation benefit applied when a corporation is named as beneficiary of an estate; the estate may be entitled to receive a discount when valuing its corporate stock because of the loss to the corporation of the stockholder-insured’s services.
A contract that ensures the availability of funds for the continuity of ownership or management and succession in the event of the death of a sole or principal owner or high-level employee.
Life insurance designed to compensate a business organization for the loss of a key person by paying a benefit to the organization upon a key person’s death.
A work process that is essential to an organization and that has the greatest influence on customers.
A tool used by an organization to measure the uncertainty of meeting a strategic business objective.
A tool that an organization uses to measure the uncertainty of meeting an organizational objective.
A financial or nonfinancial metric used to help define and measure potential losses.
The net unearned income of children under age fourteen that is taxed to the child but at the child’s parents’ top marginal federal income tax rate, assuming this rate is higher than the child’s tax rate.
An algorithm in which “k” indicates the number of clusters and “means” represents the clusters’ centroids.
An examination to detect disk herniation. The patient stands and bends forward to touch the toes. Knees that are bent on the affected side while the spine is flexed forward indicate sciatic spinal nerve root compression.
A strategy for capturing and assessing information so that everyone in an organization is able to access the information needed.
A probability measure based on known mathematical laws without experience or observation.
An individual whose trespassing is known and tolerated by the landowner.
An increase in the thoracic curve of the spine. Alternatively known as humpback.