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In the context of economic systems, the two key phases of a business cycle are:
Standard Error
A measure of the variability or dispersion of a sample statistic from the population parameter.
Confidence Interval
A set of values, obtained from sample data, that probably includes the value of an unspecified population parameter, given a certain confidence level.
Point Estimate
A solitary figure or statistical measure employed to approximate the worth of a population parameter.
Confidence Interval
A portfolio of values, extracted from sampling efforts, believed to encapsulate the undiscovered value of a population attribute.
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