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The following bundles can all be on the same indifference curve.Bundle A: 4 enchiladas,1 burrito;bundle B: 3 enchiladas,3 burritos;bundle C: 2 enchiladas,2 burritos.
Sampling Distribution
A statistical probability distribution derived from a high volume of samples taken from a particular population.
Unbiased Estimator
A statistical estimator that, on average, equals the parameter being estimated.
Population Parameter
A population parameter is a numerical value that characterizes a certain aspect of a population, such as its mean or variance.
Expected Value
The long-term average value of a random variable, representing its mean outcome over an infinite number of trials.
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