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Glossary Statistics / Term

Chance variation, chance error

A random variable can be decomposed into a sum of its expected value and chance variation around its expected value. The expected value of the chance variation is zero; the standard error of the chance variation is the same as the standard error of the random variable—the size of a "typical" difference between the random variable and its expected value. See also sampling error.

Permanent link Chance variation, chance error - Creation date 2021-08-07


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