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Inflation Refers to a General Rise in the Prices of Goods

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Inflation refers to a general rise in the prices of goods and services over time.


Definitions:

Average Score

The sum of all scores in a set divided by the number of scores, commonly used as a measure of central tendency.

Variability

The extent to which data points in a statistical distribution or dataset differ from each other and from the mean.

Testable Version

A formulation of a hypothesis or theory that is specific and operational, allowing it to be empirically tested.

Hypothesis

An initial explanation offered with limited proof to guide subsequent investigative efforts.

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