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The price of a bus ride rises by 3 percent and quantity of oranges demanded decreases by 3 percent.The demand for bus rides is
Obtained Value
The measured or calculated value resulting from an experiment or study.
Critical Value
A point on the scale of the test statistic beyond which we reject the null hypothesis; it defines the cutoff point for significance.
Significance Level
A threshold in hypothesis testing that determines the probability of rejecting a true null hypothesis, commonly represented by α.
Degrees of Freedom
A concept in statistics that represents the number of independent values or quantities which can be assigned to a statistical distribution.
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