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i. Nonparametric tests require no assumptions about the shape of the population distribution.
ii. Tests of hypotheses for nominal or ordinal levels of measurement are called nonparametric or
Distribution-free tests.
iii. There is not one, but a family of chi-square distributions. There is a chi-square distribution for 1
Degree of freedom, another for 2 degrees of freedom, another for 3 degrees of freedom, and so on.
Prisoner's Dilemma
A paradox in decision analysis in which two individuals acting in their own self-interest pursue a course of action that does not result in the ideal outcome.
Nash Equilibrium
A concept in game theory where no player can benefit by changing strategies while the other players' strategies remain unchanged.
Competitor's Pie
A metaphorical representation of the total market share or demand available to all competitors within a market.
Simultaneous Move Game
A type of game theory scenario where all participants choose their actions without knowledge of the others' decisions at the same time.
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