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A stock analyst was provided with a list of 25 stocks. He was expected to pick 3 stocks from the list whose prices are expected to rise by more than 20% after 30 days. In reality, the prices of only 5 stocks would rise by more than 20% after 30 days. If he randomly selected 3 stocks from the list, he would use what type of probability distribution to compute the probability that all of the chosen stocks would appreciate more than 20% after 30 days?
Median
The middle value of a data set when it is ordered from smallest to largest, or the average of the two middle values when the dataset has an even number of observations.
Outliers
Observations in a dataset that fall far outside the range of values of other observations, potentially skewing the results or analysis.
Central Tendency
A statistical measure that identifies a single value as representative of a data set, commonly the mean, median, or mode.
Statistic
A single measure, reported as a number, used to summarize a sample of data.
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