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Inferential Statistics
Statistics that allow researchers to make predictions or inferences about a population based on a sample of data.
Mathematical Procedures
Systematic operations or processes in mathematics that involve calculation, reasoning, and problem-solving.
Level of Significance
A statistical threshold used to determine if a result can be considered statistically significant, often denoted by alpha (α).
Statistical Risk
Statistical risk quantifies the likelihood of a negative event occurring. It is often used in the context of financial markets, health studies, and other areas requiring risk assessment based on numerical data.
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