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To calculate the price elasticity of demand we divide
Chi-Squared Distribution
A statistical distribution that is used to describe the distribution of a sum of the squares of k independent standard normal variables, commonly used in hypothesis testing.
Chi-Squared Distributed
Referring to a statistical distribution that arises from the sum of the squares of variables that follow a standard normal distribution.
Degrees of Freedom
The number of values in a statistical calculation that are free to vary, often linked to the size of the data set.
P-Value
The probability that the observed data would occur if the null hypothesis were true, used as a measure to decide whether to reject the null hypothesis.
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