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New management and more specifically new business practices at the Bank of the United States caused several state banks to fail.
Population Parameter
A numerical value that summarizes or describes an aspect of a population.
Null Hypothesis
A default statement that there is no difference or effect, used as a starting point for statistical hypothesis testing.
Probability
The measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Statistic
A numerical value calculated from a sample of data, used to estimate characteristics of the population from which it is drawn.
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