Examlex
The Excel function =RAND() generates random numbers that are:
Statistical Probability
The likelihood or chance of an event occurring, based on a scale from 0 to 1, where 0 indicates impossibility and 1 indicates certainty.
Level of Significance
A statistical measure that determines the threshold at which the null hypothesis is rejected, often denoted by alpha (α).
Null Hypothesis
A statistical presumption positing that there is no notable difference or impact.
Statistical Probability
A measure quantifying the likelihood that an event will occur, calculated based on statistical evidence.
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