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Figure 4-8
-Refer to Figure 4-8.Suppose the figure shows the market demand for coffee.Suppose the price of tea,a substitute good,increases.Which of the following changes would occur?
Expected Frequency
The predicted count of occurrences for a particular category or event in a statistical distribution, based on a theoretical probability.
Sample Size
The number of observations or data points that are selected from a larger population for purposes of statistical analysis; essential to the reliability of study results.
Goodness-of-Fit Test
A statistical test used to determine how well observed data fit a specific distribution.
Contingency Table
A table often used in statistics to display the frequency distribution of variables to analyze the relationship between categorical variables.
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