Examlex
Fad City sells novel clothes that are subject to a great deal of price volatility. A recent item that cost $20 was marked up $12, marked down for a sale by $6 and then had a markdown cancellation of $3. The latest selling price is:
Probability
Probability measures the likelihood of a given event occurring, ranging from 0 (impossibility) to 1 (certainty).
Cluster Sample
A sampling technique where the population is divided into groups, or clusters, and a sample of these clusters is selected to represent the population.
Simple Random Sample
A sample drawn in such a way that every element of the population has an equal chance of being selected.
Sampling Distribution
The layout of statistical probabilities derived from a random sample.
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