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For the data below: (a)Develop a scatter diagram.
(b)Develop a three-month moving average.
(c)Compute MAD.
Correction Factor
An adjustment applied to calculations to take into account changing conditions or to improve accuracy.
Population
The entire group of individuals or items that are the subject of a statistical study.
Confidence Interval
A breadth of numerical ranges, derived from samples' statistical outputs, presumed to enclose an unknown population parameter value.
Significance
A statistical concept indicating the likelihood that an observed effect or relationship is not due to chance, often demonstrated by a p-value.
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