Examlex
Describe three characteristics of groups.
Margin of Error
The maximum expected difference between the true population parameter and a sample estimate of that parameter.
Estimator's Squared Bias
The squared difference between an estimator's expected value and the true value of the parameter being estimated.
Variance
The average of the squared differences from the Mean, measuring the spread between numbers in a data set.
Point Estimate
A single value or statistic that serves as the best guess or most probable value of an unknown population parameter.
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