Define Contraction (Recession or Slump)

question 8

Essay

Define contraction (recession or slump).

Know the conditions under which nonparametric tests are preferred over parametric tests.

Comprehend how the Wilcoxon rank sum test operates with ordinal or interval but non-normally distributed data.

Understand how to interpret the results of nonparametric tests, including the Wilcoxon rank sum test.

Grasp the significance level and its role in hypothesis testing within nonparametric methods.

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