With Symmetric,"bell-Shaped" Distributions,approximately What Percent of the Observations Are Within

question 46

Multiple Choice

With symmetric,"bell-shaped" distributions,approximately what percent of the observations are within two standard deviations of the mean?

• A)50%
• B)68%
• C)95%
• D)99.7%

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Definitions:

Market Failures

Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Government Intervention

Actions taken by a government to affect or interfere in an economy or market, usually in the interest of public welfare or economic stability.

Economic Systems

The organized way in which a country allocates resources and apportions goods and services in the national community.

Efficiency

The ability to achieve a desired output with the minimum amount of input, or to maximize output from a given amount of inputs.