Examlex
Describe the methodology of finding the consumer price index (CPI).
Variance
A statistical measure that represents the degree of spread in a dataset or the variability of the observations from the average.
Population Mean
The average value of a particular characteristic within an entire population.
Confidence Intervals
A range of values, derived from the sample data, that is likely to contain the value of an unknown population parameter, with a certain level of confidence.
Normal Populations
Refers to groups whose underlying distribution follows a normal (Gaussian) distribution, characterized by a symmetric bell-shaped curve.
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