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Figure 21-8
-Refer to Figure 21-8. If the price of good X is $5, and your budget constraint is DE, what is the price of good Y?
T Procedure
A statistical test used to determine if there is a significant difference between the means of two groups when the variances are unknown and assumed to be equal.
Sign Test
A nonparametric statistical test used to evaluate the difference between paired samples, based on the direction of changes rather than the magnitude.
Population Distribution
The spread of people across a given area or the spread of values of a particular variable across the population studied.
Sample Mean
The average computed from a sample of data, representing the central tendency of the sample.
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