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Economics Class
A course of study that examines the production, distribution, and consumption of goods and services, focusing on economic theories and principles.
Interval Estimate
An estimate of a population parameter that specifies a range within which the parameter is expected to lie.
Confidence Interval
A variety of data points, taken from sample statistics, with a high likelihood of encasing an unknown population trait's value.
Defective Systems
Refers to systems or products that fail to meet quality standards or performance expectations due to flaws or errors.
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