A Percentage or Decimal Value That Indicates the Long-Run Probability

question 89

Short Answer

A percentage or decimal value that indicates the long-run probability that the results will be correct is known as the __________ _____.

---

Definitions:

Probability Distributions

Denotes mathematical functions that describe all the possible values and likelihoods that a random variable can take within a given range.

Normal Distribution

A bell-shaped curve that is symmetric about its mean, representing the distribution of a set of data where most observations cluster around the central peak.

Simple Random

A sampling method where each member of a population has an equal chance of being selected, ensuring unbiased representation.

Systematic Sampling

A statistical sampling method where elements are selected from an ordered population using a fixed periodic interval.