Examlex
Reduction is
Error of Estimation
The difference between a population parameter and its estimate derived from a sample.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of values.
Confidence Level
The probability or likelihood, expressed as a percentage, that a confidence interval actually includes the true parameter value.
Confidence Level
Expressed in percentage terms, this statistical measure tells us how confident we can be about the range within which the true parameter of a population lies, based on sample data.
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