Please Define the Following Key Terms

question 5

Short Answer

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Henry the Navigator

---

Definitions:

Confidence Interval

A range of values derived from sample data that is likely to contain the true value of an unknown population parameter.

Population Standard Deviation

A measure of the dispersion or spread of all values in a given population, quantifying how much the values differ from the population mean.

Average Expense

An average amount of money spent, typically calculated over a specific period of time, reflecting common expenditure patterns.

Standard Deviation

Standard deviation is a measure of the amount of variation or dispersion of a set of values, indicating how much the values in a data set differ from the mean of the data set.