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The only type of business that faces limited liability is a corporation.
Random Variable
A variable whose values depend on outcomes of a random phenomenon, with each outcome having a certain probability.
Confidence Interval
A breadth of values, derived from sample observations, with a high chance of containing an unknown population parameter's value.
Level Of Significance
The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted by alpha.
Null Hypothesis
A statistical hypothesis that suggests there is no significant effect or difference between certain data sets or variables.
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