Examlex
Define the term value, and explain how people determine a product's value.
Confidence Interval
A Confidence Interval is a range of values derived from sample statistics that is likely to contain the true population parameter at a given confidence level.
Population Mean
The average value of a set of characteristics (e.g., measurements, scores) for an entire population, calculated as the sum of all values divided by the number of values.
Confidence Interval
A statistical estimate of the range within which an unknown population parameter lies, calculated to express the certainty of its covering the true value.
Confidence Interval
A series of values, based on sample statistics, presumed to include the unknown value of a population parameter.
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