Examlex
If you have a choice about consuming bundle X or bundle Y, the opportunity cost of consuming bundle X is bundle Y.
Kilograms
A metric unit of mass equal to one thousand grams, commonly used to measure weight.
Confidence Interval
A range of values, derived from the sample data, within which there is a specified probability that the value of a parameter lies.
Pounds
A unit of weight commonly used in the United States, equivalent to 0.453592 kilograms.
Confidence Interval
A range of values, derived from the sample statistics, that is likely to contain the value of an unknown population parameter.
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