Examlex
Macroeconomics involves the study of the decision-making of individuals or individual firms.
Probability
A quantification of the probability of an event happening, indicated by a value ranging from 0 to 1, with 0 meaning the event cannot happen and 1 meaning the event is certain to happen.
Standard Deviation
A statistic that measures the dispersion or variability of a dataset relative to its mean, indicating how spread out the values are.
Simple Random Sample
An evenly selected portion of a wider population, with each participant having an equal opportunity to be chosen.
Sample Size
The number of observations or data points collected in a statistical study, which impacts the study's accuracy and conclusions.
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