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Currently, there are about six workers for every retiree.
Binomial Random Variable
A random variable that follows a binomial distribution, representing the number of successes in a fixed number of binary experiments.
Standard Error
A statistic that measures the accuracy with which a sample distribution represents a population by using standard deviation and sample size.
Sampling Distribution
The pattern of probability distribution associated with a particular statistic, derived from a random sample.
Normal Curve
A type of continuous probability distribution for a real-valued random variable, characterized by its bell-shaped curve that is symmetrical around its mean.
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