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Use the following to answer questions :
The following table lists the ages (in years)and the prices (in thousands of dollars)by a sample of six houses.
-Using the regression of house value on age,the predicted value of a house that 16 years old,rounded to the nearest dollar,is:
Sample Size
The number of observations or datapoints collected in a sample, critical in determining the precision of estimates and power of statistical tests.
Type II Error
The statistical mistake of failing to reject a null hypothesis when it is actually false.
Null Hypothesis
A statistical hypothesis that proposes there is no significant difference or effect within the specified population.
Alternative Hypothesis
A hypothesis that contradicts the null hypothesis, asserting there is a significant difference or effect.
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