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Refer to the information provided in Figure 4.3 below to answer the question(s) that follow. Figure 4.3
-Refer to Figure 4.3. Retailers will have an excess supply of pencils if the government will not allow retailers to charge less than ________ for a pencil.
Expected Number
The calculated average or mean value of a numeric dataset, predicting the central value around which other values tend to cluster.
Customers In Service
The number of customers currently being served or assisted in a service-based business or setting.
Probability
The measure of the likelihood or chance that a particular event will occur, expressed as a number between 0 and 1.
System
A set of connected elements or components that function together as a complex whole, often described in terms of inputs, processes, outputs, and feedback.
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