Examlex
The weight of a product is normally distributed with a mean of 4 ounces and a variance of .25 squared ounces. What is the probability that a randomly selected unit from a recently manufactured batch weighs more than 3.75 ounces?
Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment, used as a key indicator of the labor market's health.
Disinflation
A decrease in the rate of inflation, indicating a slowdown in the rate at which prices for goods and services rise.
Structural Unemployment
Unemployment that occurs as a result of restructuring within industries, often brought on by advances in technology, as opposed to changes in market supply or demand.
Economic Organization
The structured system of production, distribution, and consumption of goods and services within a society or economy.
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