Examlex
If the annual interest rate is 1% (0.01) ,what is the present value of the future sum of $100 expected three years from today?
Test Statistic
A statistic (a quantity derived from the sample) used in statistical testing to decide whether to reject the null hypothesis.
Type I Error
Occurs when a true null hypothesis is incorrectly rejected, often referred to as a "false positive."
Level of Significance
A statistical measure that indicates how likely it is that the results observed in your data occurred by chance.
Null Hypothesis
The null hypothesis is a default hypothesis that there is no significant difference or relationship between specified populations, any observed difference being due to sampling or experimental error.
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