Examlex
List and describe the four trade barriers.
Mean
The average of a set of numbers, calculated by adding all the numbers together and then dividing by the count of the numbers.
Inferential Statistics
Involves making predictions or inferences about a population based on a sample of data.
Probability
A measure of the likelihood that a particular event will occur, usually expressed as a number between 0 and 1.
Normal Distribution
A symmetrical, bell-shaped distribution of data in which most of the observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.
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