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Figure 4-23
-In Figure 4-23, which movement will be caused by changes in income?
Variance
The square of the standard deviation, representing the average of the squared differences from the mean, and measures the spread of a data set.
Standard Deviation
A statistic that measures the dispersion or variation of a set of values from its mean, indicating how spread out the values are.
Margin of Error
The maximum amount by which the sample results are expected to differ from the true population value.
Null Hypothesis
A default hypothesis that there is no effect or no difference, and it is the hypothesis that researchers aim to test against.
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