Examlex
Which of the following consumer promotion tools refers to explicit or implicit promises by sellers that the product will perform as specified or that the seller will fix it or refund the customer's money during a specified period?
Prediction Interval
A range of values that is likely to contain the value of an unknown parameter for a future observation, with a specified level of confidence.
Expected Value
In probability and statistics, it is the average value obtained from numerous trials of an experiment over an extended period.
Confidence Interval
A compilation of values, resulting from the statistical study of samples, aimed to likely capture the value of an unknown population parameter.
Long-Run Average
Refers to the average of a set of values or outcomes over a long period of time, often used in economics to predict long-term equilibrium or trends.
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