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The world price of umbrellas is $4.00 each.The pre-trade price of umbrellas in England is $15 each.What would happen if England allows trade in umbrellas
Highly Significant
A statistical term indicating that the results observed are very unlikely to have occurred by chance alone, often used for results with very low p-values.
Statistical Significance
Indicates that the probability of the observed results occurring under the null hypothesis is low, suggesting the results are not due to random chance.
Probability
A measure of the chance or likelihood that a certain event will occur, often quantified as a fraction or percentage.
Variance
A statistical measure of the dispersion representing how much the values in a data set differ from the mean of the data set.
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