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Describe the benefits and drawbacks of starting a home-based business.
Standard Deviation
A statistic that measures the dispersion of a dataset relative to its mean, indicating how spread out the data points are.
Unbiased Estimates
Refers to statistical estimates that are expected to be equal to the true values of the parameter being estimated, showing no systematic error.
Population Estimates
Calculations that infer the number of individuals in a population at a certain time.
Variability
How much the data points in a statistical distribution or dataset deviate from the mean or average.
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