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In a map showing three indifference curves a consumer is most well off on
Degrees of Freedom
The count of independent pieces of information available to estimate another statistic, crucial in defining the distribution of various test statistics.
Contingency Table
A table used in statistics to display the frequency distribution of variables to show the relationship between them.
Level of Significance
The probability of rejecting the null hypothesis in a statistical test when it is in fact true; commonly set thresholds include 0.05 or 0.01.
Null Hypothesis
The null hypothesis is a statement or hypothesis that there is no significant difference or effect, typically to be tested against an alternative hypothesis.
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