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Manual fire detection systems include human responses, such as calling the fire department and manually activated alarms. _________________________
Random Sample
A random sample is a subset of individuals chosen from a larger population where each member has an equal chance of being selected, ensuring the representativeness of the sample.
β Recalculate
A process of recalculating the beta coefficient, which measures an investment's volatility compared to the market.
Hypotheses Testing
A method in statistics used to determine whether there is enough evidence in a sample of data to infer that a certain condition holds for the entire population.
Power of the Test
The likelihood that a test will correctly reject a false null hypothesis, essentially measuring the capability to detect an effect if there is one.
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