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Definitions:

Three Decimal Places

A numerical representation accurate to the thousandth place, often used for precision in calculations and reporting.

Skewed Distributions

Describes asymmetrical distribution of values in a dataset, where the majority of data points are located on one side of the mean, leading to a tail in the opposite side.

Categorical Variables

Variables that represent types or categories, which are not numerical and express qualitative attributes.

Median

The middle value in a data set when the values are arranged in ascending or descending order, providing a measure of central tendency.

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