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Bank Notes Created by a Goldsmith in a Fractional Reserve

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Bank notes created by a goldsmith in a fractional reserve system were


Definitions:

Simple Random Sample

A sample drawn in such a way that every member of the population has an equal chance of being selected.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, often related to the number of values in the final calculation of a statistic that are free to vary.

One-sample T Test

A statistical test used to compare the mean of a sample to a known value or theoretical expectation when the population variance is unknown.

Null Hypothesis

A hypothesis stating no significant relationship or correlation between variables, serving as the base assumption to be tested against in research.

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