Examlex
The United States can be classified as an "open" economy in that foreign trade accounts for more
than 50 percent of its GDP.
Alternative Hypothesis
A hypothesis that contradicts the null hypothesis, suggesting that there is a significant effect or difference.
Inferential Statistics
Statistical procedures used to test hypotheses and draw conclusions from data collected during research studies.
Degrees of Freedom
The number of independent values in a statistical calculation that can vary without violating the given constraints.
Significance Level
A threshold used in statistical hypothesis testing to determine whether to reject the null hypothesis, typically denoted as alpha (α).
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