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A form of pricing high,what strategy is used for new products that have no competition?
Null Hypothesis
A statistical hypothesis that assumes no effect or no difference in an experiment or study, serving as the default assumption to be tested.
Probability
Probability is the measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
Statistic
A single measure, calculated from sample data, used to summarize a characteristic of the sample.
Critical Value
A point on the scale of a test statistic beyond which the null hypothesis is rejected, often determined by the desired significance level.
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