Examlex
Regulating firms so that they always receive a guaranteed profit rate will lead to greatest efficiency.
Significant
Indicates that the results in statistical analysis are likely not due to chance, and there is a certain degree of reliability in the findings.
Power
The probability that a statistical test will correctly reject a false null hypothesis, a measure of a test's capability to detect an effect when there is one.
Hypothesis Testing
A statistical method used to evaluate the plausibility of a hypothesis by using sample data.
Confidence Level
A measure of how certain one can be about the accuracy of the results obtained from a statistical test, often expressed as a percentage like 95% or 99%.
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