Statistical alchemy is not a widely recognized term in established statistical literature or practice as of my last knowledge update in October 2023. However, the phrase could be interpreted in a few ways: 1. **Transformation of Data**: The term "alchemy" often refers to the ancient practice of transforming base metals into gold. In a statistical context, this could metaphorically relate to the process of transforming raw data into meaningful insights or valuable information through various statistical techniques and methods.

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