Examlex
Related to the Economics in Practice on p.69: Increased preference for coffee in China would most likely shift the demand curve for coffee to the ________ and lead to a(n) ________ in the price of coffee,ceteris paribus.
Test Statistic
A calculated value used in statistical hypothesis testing to determine whether to reject the null hypothesis.
Level Of Significance
The probability of rejecting the null hypothesis in a statistical test when it is actually true; a threshold for determining the statistical significance of a result.
P-Value
The p-value is a measure in statistics that helps determine the significance of results from a hypothesis test, indicating the probability of observing the results given that the null hypothesis is true.
Level Of Significance
A threshold or criterion for judging whether a statistical result is significant, commonly set at values like 0.05 or 0.01, indicating the risk of a Type I error.
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