Examlex
In the circular-flow diagram, factors of production are the goods and services produced by firms.
Value of t
A statistic used in hypothesis testing that compares the means of two groups to determine if they are significantly different from each other.
Average hourly income
The mean wage per hour received by workers, reflecting compensation for employment.
Margin of error
A measure indicating the range of values within which the true value is likely to fall, with a certain level of confidence.
Confidence interval
An estimated range of values which is likely to include an unknown population parameter, based on the given data.
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