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When Bill asked friends which TV set to buy, they warned him against certain ones but praised others. He went to a huge new "electronics supermarket" where he checked out features of the 27- inch colour sets. He saw two he liked overall, but one of them had a feature he really liked: stereo broadcast reception. The process by which Bill sought appropriate guidelines to use in making a purchase decision is:
Smallest Observation
The smallest observation, also known as the minimum value, is the lowest value in a set of data points.
3rd Quartile
A value below which 75% of the data points in a dataset fall.
Negatively Skewed Distribution
A probability distribution that is characterized by a long tail on the left side, indicating that the bulk of the values are concentrated to the right.
Smallest Observation
The lowest value recorded in a data set.
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