Examlex
Population growth and changing demographics are two elements of a firm's sociocultural environment.
Null Hypothesis
The null hypothesis is a statement used in statistical testing that proposes there is no significant difference or effect, serving as the default assumption to be tested against.
Level of Significance
The threshold below which a p-value is considered statistically significant, typically set at 0.05 or 5%, indicating the probability of rejecting the null hypothesis when it is true.
Point Estimate
A single value (statistic) given as the best guess or most reasonable approximation of a population parameter based on sample data.
Population Proportion
The fraction or percentage of members in a population that exhibit a particular characteristic or attribute.
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