Examlex
The increasing pace of technological change has resulted in a dramatic shortening of product life cycles.
Interval Estimate
An estimate of a population parameter that provides a range of values believed to contain the parameter with a certain level of confidence.
Population Mean
The average of a set of values, taken from the entire population of data.
Confidence Level
The probability that a population parameter will fall between a set of values for a certain proportion of times.
Confidence Interval
A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a specified level of confidence.
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