Examlex
Which of the following is the process of negotiating labour agreements between union members and management?
Point Estimate
A single value (or point) estimate derived from sample data to approximate a population parameter.
Confidence Interval
A range of number sets, derived from statistical analyses of samples, assumed to hold the invisible value of a population characteristic.
Margin of Error
An expression of the range within which the true value of a statistic is expected to fall, based on sample observations.
Standard Error
A measure of how much sample means of a given data set are expected to vary, serving as a statistical indicator of precision.
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