Examlex
If the market for tickets to the World Series is in equilibrium but owners of tickets who would have sold their tickets are not allowed to sell,while fans who would not sell their tickets are required to sell,total surplus would decrease.
Variance
A measure of the dispersion or spread of a set of data points, indicating how far each data point lies from the mean.
Consistency
refers to the property of an estimator in which, as the sample size increases, it converges in probability to the parameter it estimates.
Interval Estimator
An interval estimator provides a range of values, defined by an upper and lower bound, that is likely to contain the population parameter of interest.
Sample Mean
The average of a subset of numbers from a larger set, representing the central tendency of that subset.
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