Simple question - Cloudwatch data source

The documentation is not very complete on this (and the screenshot on the Cloudwatch docs page seems to be out of date), so hopefully this will be simple to answer…

If I have a Metric and Dimension that results in many returned values (like the CPUUtilization for all the EC2 instances in an account), and am using a visualization like SingleStat, then are the following two assumptions correct?

  1. The “Stats” entry on the Query tab is how the data is aggregated over the sample set (all instances in this example)

  2. The “Show” entry on the Visualization tab is how the data is aggregated over the selected time interval.