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Along the aggregate production function, as the quantity of labor rises, real GDP
Binomial Experiment
A statistical experiment that fits the binomial distribution; characterized by fixed number of trials, two possible outcomes per trial, independent trials, and constant probability of success.
Trials
In statistics and research, trials refer to individual attempts or experiments conducted to test a hypothesis or observe outcomes.
Poisson Distribution
A discrete frequency distribution that expresses the probability of a given number of events happening in a fixed interval of time or space.
Probability
The calculation of how likely an event is to occur, with its value determined to be between 0 and 1.
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