Examlex
Explain how globalization has caused some goods to be cheaper.
Average Sales
The mean amount of sales over a certain period, calculated by summing all sales figures and dividing by the number of sales transactions.
Critical Value
A point on the scale of the test statistic beyond which we reject the null hypothesis; it marks the threshold for significance in hypothesis testing.
P-value
The odds of receiving outcomes in a test that are equally or more extreme than those observed, given the null hypothesis is assumed to be accurate.
Level of Significance
A threshold in statistical hypothesis testing below which a result is considered statistically significant.
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