Examlex
The difference between the Bank of Canada rate and the prime rate is based on the supply-and-demand relationships for short-term funds.
T-Distribution
A probability distribution that is used in hypothesis testing for small sample sizes, where the population standard deviation is unknown.
Random Variable
A variable whose values depend on outcomes of a random phenomenon, with each outcome having a certain probability.
Confidence Interval
A breadth of values, derived from sample observations, with a high chance of containing an unknown population parameter's value.
Level Of Significance
The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted by alpha.
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