Examlex
In general, when the price of a normal good rises, consumers will purchase _____ of the good.
Statistically Significant
Statistically significant results indicate that the observed effects or differences in a study are unlikely to be due to chance, based on a predetermined significance level.
Alpha Level
Another term for significance level, representing the threshold of probability at which the null hypothesis is rejected in hypothesis testing.
Null Hypothesis
A hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.
Alternative Hypothesis
A statement in statistics that indicates the presence of an effect, difference, or relationship when compared to the null hypothesis.
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