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What is a firm? What other terms do economists use interchangeably with the term "firm"?
Chi-Square Distribution
The chi-square distribution is a statistical distribution used in hypothesis testing that is applicable to variables measured on a nominal scale, primarily for goodness-of-fit and independence tests.
Test Statistic
A numerical value calculated from a sample and used in hypothesis testing to evaluate the plausibility of the null hypothesis.
Critical Region
The set of values for which the null hypothesis is rejected in a statistical test.
Null Hypothesis
A default assumption in statistical hypothesis testing that there is no effect or no difference, used as a basis for testing statistical significance.
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