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Definitions:
Sample Mean
The average of all numerical values in a sample set, calculated by summing all values and dividing by the number of values.
Level of Confidence
The probability or degree of certainty that the result of a statistical test or estimate falls within a specific range.
Confidence Interval
A range of values derived from sample statistics that is likely to contain the true parameter of the population with a specified level of confidence.
Population Mean
The average of all the numerical values in a population, calculated as the total sum of the values divided by the number of values in the population.
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