Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: M

MEAN DEVIATION

Defined as the average of the absolute differences of each value in a set of values to the average of all the values in that set. Absolute differences is the difference between

MEDIAN

An arranged value set finds this specific type of value or quantity at the ascending or descending order’s halfway point. When an odd number of values exists in the set , the

MEDICARE BENEFICIARY

As determined by the Social Security Administration as eligible for Medicare benefits, this is anyone who is this type of person.

MEMO ENTRY

No total increase or decrease occurs from this specific type of balance sheet transaction. Stock splits are a typical use.

MERCHANDISING ALLOWANCE

as a compensation for a retailer’s special promotional efforts, a manufacturer or distributor reduces the wholesale price of a good, leading to this specific type of sales promotion incentive scheme.

METALLURGY

Formulation of metal alloys, uses of metals, and the recovery, refining, properties technology as this specific science.

METRICS

Efficiency, progress, performance, and quality of a plan, process, or product are assessed by these specific standards of measurement .

MICROCONTROLLER

A scaled down, task-specific microcomputer. May/may not have an input or output device. Fuel injectors, security systems, or traffic monitors typically have embedded systems containing a microcontroller.

MICROPAYMENT

Small amount transactions; cost five dollars or less, typically only a few cents . Mostly done with the sale of information over the Internet.

MIDI TAIL

After a claims made liability policy has expired to allow continued claims, this specific type of an extended reporting period is made. No more than 60 days after the policy’s end can

MILKING STRATEGY

Short-term revenue generation strategy. Used by investors to boost stock prices or company revenues and generate profits quickly. It is given a higher priority than longer term concerns: brand development; stability of

MINI

Insurance that only covers one line of risk.

MINIMUM QUOTE SIZE

To be displayed and, therefore, traded on the London Stock Exchange’s stock exchange automated quotation system (SEAQ), this specific type of minimum share count is what market-makers must show. NASDAQ. an American

MINT RATIO

This specific ratio is a comparison of the gold ounce price to the silver ounce price.

MIST

Air or gaseous medium suspending this type of fine droplets of liquid.

MOBILE

1. Able to move. Capable of movement. 2. Cellular or mobile phone in today’s slang. 3. An arranged, balanced free-moving object. An example is a crib mobile that moves dangling toys.

MODIFIED DURATION

Macaulay duration adjusted for compounding. Fixed-income financial instrument’s price volatility and interest rate sensitivity measure. Like an interest bearing bond, the instrument’s value-percentage change for each percentage point change in prevailing interest

MONOCHROME

When a black print is made on white paper. Single color known as ‘black and white’ .

MORAL HAZARD

In common usage, moral hazard infers a conscious malicious, even illegal, motivation, versus an unconscious behavior change. Circumstance that increases the likelihood of a loss, or abnormal loss. Typically due to a

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