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Water Rites LLC enters into a contract to site and dig a well for Rancho Verde. Water Rites completely performs. Rancho Verde is entitled to
Observed Z Value
The value resulting from a Z-test statistic used in hypothesis testing, representing how many standard deviations an observation is from the mean.
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.
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