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Poker Time
The amount of time spent by American adults playing Poker per week is normally distributed with a mean of 4 hours and standard deviation of 1.25 hours.
-{Poker Time Narrative} Find the probability that if four American adults are randomly selected,their average number of hours spent playing Poker is more than 5 hours per week.
Minimum Wage Law
Legislation that sets the lowest hourly wage rate that an employer can legally pay their employees.
Labor Demanded
The total amount of labor that employers are willing to hire at a given wage rate in an economic market.
Collective Bargaining
The negotiation process between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, and other aspects of workers' compensation and rights.
Union Wages
The level of compensation agreed upon through collective bargaining between labor unions and employers, often resulting in higher wages and better benefits for union workers compared to their non-union counterparts.
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