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A new sales person is paid a commission on each sale.This person made $2,000 in commission his first month on the job.From this he concludes that he will make $24,000 during his first year.This is an example of _______.
Statistical Software
Computer programs designed to assist with the organization, analysis, and visualization of data for statistical purposes.
Hypothesis Test
A statistical method that uses sample data to evaluate a hypothesis about the properties or parameters of a population.
Interval Estimate
An estimate of a population parameter that specifies a range of possible values within which the parameter is expected to lie, with a certain level of confidence.
Unknown Parameter
A value within a statistical model that is not observed directly but is estimated from the data.
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