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Based on the answer provided in Q16 and given that a confidence level of 95% is set for each test, what would be the revised level of confidence (i.e. probability of no Type I errors?)
Range
The difference between the highest and lowest values in a data set, indicating its spread.
Coefficient of Variation
A metric that quantifies the spread of data points around the mean within a dataset, represented as a percentage of the mean itself.
Variance
A statistical measure of the dispersion of a set of data points in a data distribution, showing how each data point differs from the mean.
Variance
A measurement of the spread between numbers in a data set, indicating how much the numbers differ from the mean.
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