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Standard Deduction: The method of calculating cost of sales that compares the amounts of materials, direct labor and overhead projected in the Cost of Sales assumption (the standard costs) to expenses allocated . . . View Full Definition

Deductions (Food Stamps): When calculating a household’s monthly food stamp benefit, food stamp rules require calculation of its net income, with lower net income amounts (larger deductions) producing higher food sta . . . View Full Definition

Standard Industrial Classification (SIC): In statistics, a measure of the possible error in an estimate. Plus or minus 2 standard errors usually provides a 95% confidence interval.

Standard Hydrogen Electrode: A platinum electrode that runs the half reaction 2 H+(aq, 1M) + 2 e- rightarrow H2(g, 1 atm), chosen as a reference for cell voltages. The electrode potential of the standard hydrogen electr . . . View Full Definition