Examlex
Given forecast errors of 4, 8, and −3, what is the mean absolute deviation?
Significance Level
The probability of rejecting the null hypothesis when it is true, used as a threshold in hypothesis testing.
Test Statistic
A standardized value derived from sample data during a hypothesis test that is used to make the decision about the null hypothesis.
Test Statistic
A value calculated from sample data that is used to evaluate the validity of a hypothesis.
Significance Level
The threshold at which a result is considered statistically significant, typically set at a p-value less than 0.05.
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