Examlex
The fall in the value of the domestic currency will sharply reduce the purchasing power of its people.
Central Tendency
A statistical measure that identifies a single value as representative of an entire distribution of data, commonly the mean, median, or mode.
Standard Deviation
A measure of the amount of variation or dispersion of a set of values, indicating how much the values in a data set differ from the mean.
Computing Mean
The process of calculating the average value of a set of numbers by adding them together and dividing by the quantity of numbers.
ΣX / N
The formula for calculating the mean of a set of data, where ΣX is the sum of all data points and N is the number of data points.
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