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The product life cycle for a refrigerator is usually a few months.
Level Of Significance
The probability of incorrectly rejecting a true null hypothesis, often denoted by alpha in hypothesis testing.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the population parameter with a specified level of confidence.
Null Hypothesis
A statement used in hypothesis testing that assumes no effect or no difference exists between two or more sets of data.
Hypothesized Value
A specific value proposed as existing or being true within the context of a statistical hypothesis test.
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