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Briefly explain how research into new technologies gives rise to a positive externality.
Population Random Variable
A variable that incorporates the randomness from a population and is used for probability distributions in statistical calculations.
Ch-Squared Distribution
A statistical distribution describing the sum of the squares of variables that follow a standard normal distribution; often used in hypothesis testing.
Degrees of Freedom
The number of independent values or quantities which can be assigned to a statistical distribution or test without violating any constraints.
Confidence Interval
An estimated range of values calculated from a sample that is likely to cover the true population parameter with a certain level of confidence.
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