Examlex
The monthly starting salaries of students who receive an MBA degree have a population standard deviation of $110. What size sample should be selected to obtain a 0.95 probability of estimating the mean monthly income within $20 or less?
Standard Deviation
A measure of the amount of variation or dispersion of a set of values, calculated as the square root of the variance.
Variance
A measure of the dispersion of a set of data points in a population, showing how much the data diverge from the average value.
Degrees of Freedom
The number of independent values or quantities which can vary in the calculation of a statistic, typically in the context of hypothesis testing.
F Distribution
A continuous probability distribution that arises frequently as the null distribution of a test statistic, especially in the analysis of variance (ANOVA).
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