Examlex
A decrease in demand will cause a decrease in price, which will cause a decrease in supply.
One-way ANOVA
A statistical test that analyzes the differences among three or more group means by comparing within-group variance to between-group variance.
Normally Distributed
Describes a distribution of data where most values cluster around a central mean value, with the distribution tapering off symmetrically towards both extremes.
Weighted Average
An average whereby each quantity to be averaged is assigned a weight, reflecting its importance or frequency relative to other quantities.
Observations
Individual data points or measured values collected during an experiment or survey.
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