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Definitions of Economics Terms Beginning with the Letter P

Definitions of economics terms beginning with the letter P, such as prime rate and proportional tax.

Definition of Producer Surplus

Producer Surplus Defined - A Dictionary Definition of Producer Surplus

P-value - Dictionary definition of P-value

P-value is associated with a test statistic. It is "the probability, if the test statistic really were distributed as it would be under the null hypothesis, of observing a test statistic [as extreme as, or more extreme than] the one actually observed."
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