Examlex
Service providers use tools such as __________, which consists of charging different prices for different times of the day or during different days of the week to reflect the variations in demand for their services.
Sample Size
Sample size refers to the number of observations or data points collected in a statistical study, which is critical for ensuring the reliability, validity, and generalizability of the study's results.
Probability of Error
Probability of error refers to the likelihood that a statistical decision or hypothesis test will result in a wrong conclusion.
Test Power
The probability that a statistical test will correctly reject a false null hypothesis, essentially the ability of a test to detect an effect if there is one.
Conditional Probabilities
are the probabilities of an event occurring given that another event has already occurred.
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