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Published online by Cambridge University Press: 13 December 2024
Up to this point we have been talking about what are often called frequentist methods, because a statistical method is based on properties of its long-run relative frequency. With this approach, the probability of an event is defined as the proportion of times the event occurs in the long run. Parameters, that is values that characterize a distribution, such as the mean and variance of a normal distribution, are considered fixed but unknown.
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