Examlex
Suppose you start a new business to compete with Uber. You design an easy-to-use app and arrange for drivers to get paid a percentage for each ride. This is an example of a ____.
Mean
The mean of a collection of numbers, found by dividing the total sum of the numbers by the quantity of numbers.
Standard Deviation
It quantifies the dispersion of a dataset relative to its mean, reflecting how spread out the data points are.
Confidence Interval
A range of values, derived from statistical analysis, that is likely to contain the true parameter value.
Sample
A subset of a population selected for measurement, observation, or questioning to provide data for analysis.
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