Based on the Empirical Rule, What Percent of the Observations

question 20

Multiple Choice

Based on the Empirical Rule, what percent of the observations will lie between plus or minus two standard deviations from the mean?

• A) 95%
• B) 5%
• C) 68%
• D) 2.5%

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Definitions:

Unemployment Rate

The proportion of the working sector that lacks employment but is in the hunt for jobs.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of innovations.

Production Possibility Frontier

A curve demonstrating the maximum potential output levels of two goods or services an economy can achieve when all resources are efficiently utilized.

Economic

Relating to the principles and practices of economics or the economy; the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.