Examlex
A component of operating efficiency and profitability, calculated by expressing profit as a percentage of net sales, is the:
T-statistic
A statistic calculated from a sample of data used to conduct a t-test, which assesses whether there is a significant difference between the means of two datasets.
Type II Error
An error that occurs when a statistical test fails to reject a false null hypothesis, indicating a missed opportunity to detect an actual effect or difference.
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive".
Effect Size
A quantitative measure of the magnitude of the difference between groups or the strength of the relationship between variables in a statistical analysis.
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