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The product with the highest contribution margin per scarce resource is the most profitable.
Sample Size
The number of observations or data points collected in a statistical study, which is crucial for determining the study's accuracy and reliability.
Null Hypothesis
A hypothesis that assumes no statistical significance exists in a set of observations and that any observed difference is due to sampling or experimental error.
Significance Level
The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted as alpha and used as a threshold for determining statistical significance.
Null Hypotheses
A statistical hypothesis that assumes no significant difference or effect exists within a set of given observations.
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