Examlex
On a production possibilities frontier diagram,where are production points that have tradeoffs? Where are production points with a free lunch?
Sample Mean
The average value of a set of numbers in a sample taken from a larger population. It is used to estimate the population mean.
Population Average
The population average is the mean value of a particular characteristic for the entire population, providing a central tendency measure of that characteristic.
Standard Error
The standard deviation of the sampling distribution of a statistic, most commonly of the mean.
Effect Size
A quantitative measure of the magnitude of a phenomenon, indicating the size of an effect or difference in a statistical model.
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