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Timmy can edit 2 pages in one minute and he can type 80 words in one minute. Olivia can edit 1 page in one minute and she can type 100 words in one minute. Timmy has an absolute advantage and a comparative advantage in editing, while Olivia has an absolute advantage and a comparative advantage in typing.
Two-Sample T-Test
A statistical test used to compare the means of two independent samples to determine if they come from populations with equal means.
Wilcoxon Signed Rank Test
A nonparametric statistical test used to compare two related samples, matched samples, or repeated measurements on a single sample to assess whether their population mean ranks differ.
Normal Approximation
A technique used to approximate a binomial distribution with a normal distribution when the sample size is sufficiently large.
Wilcoxon Signed Rank Test
A non-parametric statistical test that compares two related samples or repeated measurements on a single sample to assess whether their population mean ranks differ.
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