Examlex
Scarcity appeals are designed to build brand awareness and lead to positive attitudes toward the brand.
Significance
Significance refers to the measure of whether the results of a study or experiment are likely not due to chance, as determined by a set threshold of probability (p-value).
Alpha (α)
The threshold of significance in a statistical test; the probability of rejecting the null hypothesis when it is true, often set at 0.05 or 5%.
Population Parameter
A value that represents a characteristic of an entire population, such as its mean or standard deviation.
Statistic
A statistic is a single measure or value that is derived from a sample of data, used to estimate or infer properties of the population from which the sample was drawn.
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