Examlex
Evaluate the following in terms of the shifts in demand: Industries that sell inferior goods do well in an economic downturn.
Standard Deviation
Standard deviation is a measure of the dispersion or variability in a set of data, quantifying how much individual data points deviate from the mean of the dataset.
T-Score
A standardized score that describes how far an individual's score lies from the mean of a distribution, measured in standard deviation units.
Confidence Estimate
A range or single value derived from a sample statistic that covers an unknown population parameter with a certain confidence level.
T-Distribution
Is a type of probability distribution that is symmetric and bell-shaped, used in statistics when the sample size is small and the population standard deviation is unknown.
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