Examlex
When the world price of a product is higher than the domestic price, with international trade domestic consumers will pay a _____ domestic price, and domestic producers will generally _____ the product.
Type II Error
The error that occurs when a statistical test fails to reject a false null hypothesis.
Type I Error
The incorrect rejection of a true null hypothesis, or "false positive," often denoted by alpha (α).
Statistical Significance
A measure of whether observed data can be considered as not being the result of chance, typically through the use of a p-value.
Dependent-Samples T-Test
A statistical procedure used to compare means from the same group at two different times or under two different conditions.
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