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Normative analysis:
Data Analysis
The process of inspecting, cleansing, transforming, and modeling data to discover useful information and support decision-making.
Alpha (α)
Alpha, often referred to as the significance level, is a threshold used in hypothesis testing to determine whether to reject the null hypothesis, typically set at 0.05 or 5%.
Statistical Hypothesis
A conjecture about a parameter or distribution in statistics that can be tested against observational data.
Probability
The probability of an event happening, represented by a numerical value ranging from 0 to 1.
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