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The existence of any "gains from trade" relies on
Confidence Interval
A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, expressed with a certain level of confidence.
Population Standard Deviation
A measure of the dispersion or spread of all members of a population from its mean value.
Interval Estimate
A range of values used to estimate a population parameter, typically expressed through confidence intervals.
Population Mean
The average value of a population's characteristic, calculated by summing all values and dividing by the population size.
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