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A homeowner discovers that a large tree in his yard is diseased and may fall in a bad windstorm and if it falls, it will likely destroy the garage. The cost to have the tree cut down is significant but the homeowner has an insurance policy and figures that if the tree falls and destroys the garage, the insurance company will pay, and the deductible is less than the cost to have the tree removed. This is an example of:
Classes or Categories
Distinct groups or divisions within a dataset or population, used to organize, analyze, or classify information.
Freshmen
Students in their first year of study in a secondary or post-secondary educational institution.
Significant Change
A measurable difference in data or results that surpasses the threshold of statistical significance, indicating that it is unlikely to have occurred by chance.
Expected Number
The value predicted for a random variable, taking into account all possible values it can take weighted by their respective probability of occurrence.
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