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The MPC plus the MPS equals
Null Hypothesis
The null hypothesis is a type of hypothesis used in statistics that proposes no statistical significance exists in a set of given observations, serving as the default assumption until evidence suggests otherwise.
Level of Significance
A threshold used in statistical tests to determine if the observed data sufficiently deviate from a null hypothesis.
Income Bracket
An income bracket refers to a range of incomes segmented for statistical purposes, often used in economic and policy analyses to categorize and compare individuals' or households' financial status.
Level of Significance
The threshold used in statistical testing to determine the probability of rejecting the null hypothesis, representing the risk of making a Type I error.
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