Archive for the ‘Word of the Day’ Category


The beginning of a day’s trading on the NYSE or the NASDAQ.

Usage: The Dow was up 15 points at the open.

Vision Statement

A short, emotional description of an image of the future for the organization.

Usage: The vision statement helps employees understand where the company is headed.

Parent Company

The company that owns the stock of another company or controls its business activities.

Usage: Altria is the parent company of Philip Morris USA.


Investor or commentator who thinks that market value will go down. Pessimist. Opposite of a bull.

Usage: The investment adviser described himself as a bear and suggested that stocks might lose value over the next few weeks.

Cost Analysis

An apples to apples comparison of the costs of two or more things.

Usage: It’s difficult to prepare a cost analysis of cell phone plans. Not only are there a lot of different features and functions, each pricing plan is described in different terms.

Multi-Dimensional Scaling

A body of techniques for representing graphically the locations and interrelationships among a set of points.

Usage: Product position maps are one type of multi-dimensional scaling.


Governmental Accounting Standards Board. Pronounced gazz-bee. An independent organization that develops financial reporting standards for government agencies.

Usage: The GASB rulings have no relevance to publicly traded companies.

Preliminary Plat

Apr 26, 2016


In: Meme, Word of the Day


Tentative subdivision layout, showing approximate proposed street and lot layout; basis for consideration prior to preparing a Final Plat.

Usage: The preliminary survey is a preliminary plat by a civil engineer to document all significant facts about the property.

Pareto’s Law

Also known as the Rule of 80-20. Generalization that a greater percent is responsible for a smaller amount or that a smaller amount is responsible for a greater effect.

Usage: The classic example of Pareto’s Law is that 20% of the population has 80% of the wealth.

Bayesian Statistics

Statistical methods that incorporate prior judgment in addition to evidence and reasoning.

Usage: The team used Bayesian statistics to update their estimates of the probability of success now that they had some experience to take into consideration.