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The price index is 180 in one year and 210 in the next. What is the inflation rate?
Significance Level
The probability of rejecting the null hypothesis when it is actually true, usually denoted as alpha (α).
Null Hypothesis
The assumption for a statistical test that there is no association between two observed phenomena or no difference among groups.
Population
In statistics, this term refers to the entire group of individuals or instances about which you are interested in making conclusions.
Statistics
The science of collecting, analyzing, interpreting, presenting, and organizing data.
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