Examlex
The formula for the return on investment (ROI) is
Type II Error
A statistical error that occurs when a false null hypothesis is not rejected, meaning a real effect or difference is missed.
Power of the Test
The probability that the test correctly rejects a false null hypothesis, effectively detecting an effect when there is one.
Normally Distributed
A probability distribution that demonstrates symmetry around its mean, indicating that occurrences diminish as distance from the mean increases.
Probability
The quantification of the chance of an event happening, represented as a numerical value ranging from 0 to 1.
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