Common use of Standards Applied Clause in Contracts

Standards Applied. To measure the time Federal funds are held in a State account prior to being disbursed, the State shall use statistical sampling. The sample shall be randomly selected, and shall be of sufficient size to ensure, at a minimum, a 95% confidence interval no wider than ą 0.3 dollar-weighted days about the estimated mean. For each check in the sample population, the State shall: 1 subtract the deposit date from the issuance date 2 multiply the difference of step 1 by the check amount 3 divide the product of step 2 by the total amount of funds drawn in the sample to determine the dollar-weighted pre-issuance time for that check The State shall then sum the dollar-weighted pre-issuance time for each check to arrive at the total dollar-weighted average pre-issuance time to be used for calculating State interest liabilities.

Standards Applied. Statistical Sampling (Pre-Issuance): To measure the time Federal funds are held in a State account prior to being disbursed, the State shall use statistical sampling. The sample shall be randomly selected, and shall be of sufficient size to ensure, at a minimum, a 95% confidence interval no wider than ą ± 0.3 dollar-weighted days about the estimated mean. For each check in the sample population, the State shall: 1 subtract the deposit date from the issuance date 2 multiply the difference of step 1 by the check amount 3 divide the product of step 2 by the total amount of funds drawn in the sample to determine the dollar-weighted pre-pre- issuance time for that check The State shall then sum the dollar-weighted pre-issuance time for each check to arrive at the total dollar-weighted average pre-issuance time to be used for calculating State interest liabilities.

Standards Applied. Statistical Sampling (Pre-Issuance): To measure the time Federal funds are held in a State account prior to being disbursed, the State shall use statistical sampling. The sample shall be randomly selected, and shall be of sufficient size to ensure, at ensure a minimum, a 95% 96 percent confidence interval no wider more than ą 0.3 dollar-plus or minus 0.25 weighted days about above or below the estimated mean. For each check in the sample population, the State shall: 1 subtract the deposit date from the issuance date 2 multiply the difference of step 1 by the check amount 3 divide the product of step 2 by the total amount of funds drawn in the sample to determine the dollar-weighted pre-pre- issuance time for that check The State shall then sum the dollar-weighted pre-issuance time for each check to arrive at the total dollar-weighted average pre-issuance time to be used for calculating State interest liabilities.