Examlex
Shortages occur when prices are held below the market price, causing the quantity demanded to exceed the quantity supplied. This is a result of price:
Alpha
In hypothesis testing, alpha level represents the threshold for rejecting the null hypothesis, often set at 0.05 or 5% risk of Type I error.
T-statistic
A statistic calculated from a dataset to compare the mean of the data to a hypothetical mean as part of a t-test.
Critical Value
The boundary value from a statistical distribution where, if the observed test statistic is beyond this point, the null hypothesis is rejected.
Null Hypothesis
A default statement suggesting that there is no statistical significance between the specified datasets, or no effect of a certain variable.
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