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Describe How Inferential Statistics Are Used and Explain Statistical Significance

question 65

Essay

Describe how inferential statistics are used and explain statistical significance.


Definitions:

Effect Size

A measure that quantifies the strength of the relationship between two variables.

Null Hypothesis

A statement suggesting that there is no significant effect or difference in a given population, serving as a starting assumption for statistical significance testing.

Internal Growth Rate

The maximum rate at which a company can expand using only internally generated financing without resorting to external financing.

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