Examlex
In the orange market, what impact would an increase in the price of oil that orange growers burn to keep oranges from freezing in the winter have on the market?
T Test
A statistical analysis method that evaluates if there's a significant difference between the average values of two distinct groups.
Null Hypothesis
A hypothesis that suggests there is no statistical significance in a set of given observations, serving as a default position until evidence suggests otherwise.
Research Hypothesis
A specific, testable prediction about the outcome of a scientific study based on theory or prior research.
Significance Level
The threshold at which the results of statistical analysis are considered statistically significant, commonly set at α = 0.05 or 5%.
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