Examlex
The display of wealth for social prestige is called:
Significance Level
The probability of rejecting the null hypothesis in a statistical test when it is actually true, a measure of the risk of making a Type I error.
Alternative Hypothesis
The hypothesis that there is a significant difference or effect, contrasting with the null hypothesis and indicating the presence of an observed effect.
Type II Error
A statistical mistake where a false null hypothesis is not rejected, meaning the test fails to observe a difference when in truth there is one.
Population Mean
The average value of a characteristic in a population, calculated by summing all the values and dividing by the number of values.
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