-The comparative advantage for shoes belongs to __________ and the comparative advantage for pants belongs to __________.
Definitions:
Contingency Table
A tabular arrangement of data that displays the frequency distribution of variables to study the relationship between them.
Expected Values
The expected value of a variable is determined by the total of all its potential outcomes, each weighted by its chance of happening.
Joint Probabilities
The probability of two or more events happening at the same time, often represented within a probability distribution.
Rule of 5
A guideline in statistics that suggests if the sample size is smaller than 5, certain statistical methods, such as normal approximation, may not be reliable.
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