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-Consider the data in Table 9.6. If each firm is currently generating 100 gallons of wastewater per day, firm A would need to be paid at least _______ from firm B to reduce wastewater production to 0 gallons per day.
Nominal Data
Data classified into categories that cannot be ordered in a meaningful way. Each category is mutually exclusive.
Gender
Represents a category of either male, female, or other, used to distinguish between biological and social differences in individuals.
Nonparametric Technique
A type of statistical method that does not assume a particular distribution shape for the data, thus making it useful for data that doesn't fit normal distribution models.
Analyze Data
The process of inspecting, cleaning, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.
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