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What is the theory of comparative advantage?
Variance
A statistical measure that represents the average squared deviation from the mean, showing how data points are spread out.
Sample Correlation Coefficient
measures the strength and direction of the linear relationship between two variables in a sample.
P-Value
A measure in statistical hypothesis testing representing the probability of obtaining test results at least as extreme as the ones observed, assuming the null hypothesis is true.
Significant Level
The likelihood of incorrectly dismissing the null hypothesis, often represented by the symbol alpha (α).
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