Examlex
If the Kansas corn market is perfectly competitive,it means there is easy entry into this market.
Prediction Interval
An estimated range of values within which a future observation is expected to fall, with a certain probability.
Independent Variable
A variable in an experiment or model that is manipulated or changed to assess its effects on a dependent variable.
Probability Distribution
A mathematical function that describes the likelihood of obtaining the possible values that a random variable can assume.
Uncertainty
The state of having limited knowledge where it is impossible to exactly describe an existing state or future outcome.
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