Examlex
A distribution of service times at a waiting line indicates that service takes 12 minutes 30% of the time and 14 minutes 70% of the time. In preparing this distribution for Monte Carlo analysis, the service time 13 minutes would be represented by the random number range
Yearly Incomes
The total amount of money earned by an individual or entity in one year from all sources before any deductions.
ANOVA Table
The analysis of variance table used to summarize the computations associated with the F test for significance.
Level of Significance
The threshold below which a null hypothesis is rejected, indicating that the observed result is statistically significant.
Means
Refers to the average value in a set of numbers, calculated by adding all the numbers together and dividing by the count of these numbers.
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