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The demand curve will shift to the right as consumers have more money to spend.
Margin of Error
The margin of error is a statistic expressing the amount of random sampling error in a survey's results, indicating the range within which the true value lies with a certain level of confidence.
Critical Value
The threshold value(s) in a hypothesis test, beyond which the null hypothesis is rejected in favor of the alternative hypothesis.
Standard Error
The standard deviation of a sampling distribution indicating how much sample means differ from the actual population mean.
Point Estimate
A single value or statistic that serves as the best guess or most likely value for a population parameter based on sample data.
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