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The gentleman farmer recorded the time it took to feed and water his chickens and collect eggs each morning.He has done this several times,so he assigns himself a rating of 1.15.The allowance factor for this endeavor is 5%.What is the select time for this job?
Obtained Value
The actual value measured or calculated in an experiment, often compared against a critical value to determine statistical significance.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.
Smaller Range
Smaller range refers to a narrower interval between the smallest and largest values in a data set, indicating less variability among the data points.
Test Statistic
A metric derived from sample information in a hypothesis test, utilized to determine the rejection of the null hypothesis.
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