Examlex
A company will use test marketing to determine such information as:
Parameter
A numerical characteristic that describes and summarizes an aspect of a population in statistics.
Unbiased Estimator
A statistical estimator whose expected value is equal to the parameter being estimated, indicating accuracy across samples.
Expected Value
The long-run average value of repetitions of the same experiment or random process, calculated as the sum of all possible values weighted by their probabilities of occurrence.
Parameter
A numerical characteristic or feature of a population that is estimated using sample data.
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