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If we observe that William's budget constraint has moved inward, then we know for certain that
Sample Means
The average value of a set of measurements or quantities taken from a larger population, used as an estimate of the overall population mean.
Sampling Distribution
The likelihood distribution for a particular statistic derived from a random sample, utilized for estimating the population parameter.
Sample Proportion
The fraction of members in a sample that have a particular attribute.
Population Proportion
The fraction or percentage of members in a population that possess a particular attribute or characteristic.
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