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When Glow Gift Card Shop Offers a Price Reduction to Customers

question 73

Multiple Choice

When Glow Gift Card Shop offers a price reduction to customers who buy Christmas cards the week after Christmas,it is giving a(n) ________ discount.


Definitions:

Probability

The degree to which something is likely to happen, quantified as a number between 0 (impossible) and 1 (certain).

P-Values

Probabilities used to quantify the significance of findings, or the likelihood that the observed data occurred by chance under the null hypothesis.

Null Hypothesis

A statement in statistical analysis that assumes no significant difference or effect, serving as the default assumption to be tested against an alternative hypothesis.

Level Of Significance

A threshold used in hypothesis testing to determine whether to reject the null hypothesis, commonly set at 0.05, indicating a 5% risk of concluding that a difference exists when there is none.

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