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If a special interest group represents 10% of society and gets a public policy passed that costs society $1 million and benefits that special interest group $1 million, the net payoff for the special interest group will be:
Normal Distribution
A bell-shaped curve that shows data distribution where most measurements are centered around the mean, denoting a predictable pattern of variability.
Probability
A measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Sampling Distribution
This is the probability distribution of a given statistic based on a random sample.
Variance
A measure of the spread or dispersion of a set of data points, indicating how much the values differ from the mean of the set.
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