Examlex
When an agent has been dealing with a third party for an undisclosed principal and there is a default, what rights are available to the third party?
Type I Error
The error of rejecting the null hypothesis when it is true, often referred to as a "false positive."
Confidence Interval
An interval of values, pulled from a sample's statistics, with a good chance of containing the elusive value of a population parameter.
Level of Significance
The probability of rejecting the null hypothesis in a statistical test when it is actually true, typically denoted by alpha (\(\alpha\)).
Test Statistic
A value calculated from sample data during a hypothesis test that is used to make a decision about the validity of a hypothesis.
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