Provide an explanation for each of the following asset accounts.
Definitions:
Nominal Data
Data classified into categories that cannot be ordered or ranked in any meaningful way.
Ordinal Data
A type of categorical statistical data representing order or rank, such as levels of satisfaction, without specifying the exact differences between ranks.
Null Hypothesis
A hypothesis that proposes there is no significant difference or effect and serves as the default assumption to be tested against an alternative.
Student-t
A distribution used in statistics that is appropriate for estimating population parameters for small sample sizes or unknown variances.
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