Examlex
Both correlational and nonexperimental studies intend to examine relationships between variables without trying to explain the relationships.
Binomial Experiment
A statistical experiment that has exactly two possible outcomes for each trial and a fixed number of trials.
Probability
A measure of the likelihood of a certain event or outcome occurring, expressed as a number between 0 and 1.
Probability Distribution
A mathematical function that describes the likelihood of obtaining the possible values that a random variable can assume.
Daily Demand
The total quantity of a product or service required by the market within one day.
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