Examlex
Which probability distribution is used to develop a control chart for sample means?
Standard Deviation
A statistic that measures the dispersion or variability of a dataset relative to its mean, indicating how spread out the data points are.
Mean Purchase
The average amount of purchases made over a certain period of time or across individuals.
Probability
The expression of an event's likelihood as a number from 0 to 1.
Standard Error
A measure that quantifies the variation or dispersion of sample means relative to the true population mean.
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