Like Biologists and Physicists, Economists Use the Dispassionate Development and Testing

question 184

Short Answer

Like biologists and physicists, economists use the dispassionate development and testing of how the world works known as the

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Definitions:

Degrees of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, often affecting its distribution.

Confidence Interval

A scope of values, extracted from sample studies, that is likely to enclose the value of an unknown characteristic of the population.

T-Distribution

A statistical distribution used when estimating population parameters of a normally distributed population in situations where the sample size is small and the population standard deviation is unknown.

Degrees of Freedom

The count of separate values or amounts assignable to a statistical distribution.