Variable than population distribution
Describe why the sampling distribution will be less variable than population distribution. Provide a short example to illustrate your answer.
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Is it possible to make a confident prediction concerning their actions and the outcome? The firms make their decision independently, and each is seeking its own maximum profit. Explain.
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Using your experience, when faced with need to make a decision, what was the null hypothesis and what was the alternative hypothesis? How did you go about testing them? As a result of your testing, what conclusion were you able to reach?
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