Examlex
In the month of May Kayak Company Inc. wrote checks in the amount of $65000. In June checks in the amount of $67000 were written. In May $60000 of these checks were presented to the bank for payment and $66000 in June. What is the amount of outstanding checks at the end of June?
Statistically Significant
A term indicating that a result from data analysis demonstrates a true effect or difference, beyond what would be expected by chance alone.
Inferential Statistics
A branch of statistics that allows us to make predictions or inferences about a population based on a sample of data.
Significance
The quality of being worthy of attention; importance.
Observed Difference
An observed difference refers to a noticeable disparity or variation between two or more entities, conditions, or data points, as discerned through observation or analysis.
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