Examlex
What is a secular trend?
Expected Value
The predicted value of a variable, calculated as the weighted average of all possible values this variable can take; each value is weighted by its probability of occurrence.
Perfect Information
Perfect Information refers to a situation where all participants have comprehensive knowledge of all relevant aspects, eliminating uncertainty.
PHStat
A software tool that enhances Excel with statistics functions, making it easier to perform statistical analyses.
Decision Tree
A decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.
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