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If the demand for iPods is price elastic, then
T-tests
A type of inferential statistic used to determine if there is a significant difference between the means of two groups, which may be related in certain features.
Sum Squares Treatments (SST)
A measure used in the analysis of variance (ANOVA), representing the sum of squared differences between the treatment means and the overall mean.
Sum Squares Error (SSE)
This term corresponds to the sum of the squared differences between the observed and predicted values, used in statistical models to measure the amount of error.
SS(Total)
The total sum of squares in statistical analysis, a measure of the total variability within a dataset.
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