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Standard Error
Standard error measures the precision of a sample mean estimate of a population mean, indicating how much the sample mean is expected to fluctuate from the true population mean.
Population Average
The mean value of a given characteristic within an entire population.
Sample Mean
The average of all observations in a sample, calculated by summing the values and dividing by the sample size.
Critical Value
A point on the scale of the test statistic beyond which we reject the null hypothesis; it marks the boundary for deciding whether an observed test statistic is extreme.
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