The Given Values Are Discrete

question 219

Multiple Choice

The given values are discrete. Use the continuity correction and describe the region of the normal distribution that corresponds to the indicated probability.
-The probability that the number of correct answers is between 30 and 59 inclusive

• A) The area between 30.5 and 58.5
• B) The area between 29.5 and 59.5
• C) The area between 29.5 and 58.5
• D) The area between 30 and 59

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Definitions:

Comparative Advantage

The ability to produce a good at a lower opportunity cost than another producer

Sectoral Shocks

Unexpected events that cause significant shifts in demand or supply in a specific sector of the economy, leading to changes in prices and output levels.

Frictional Unemployment

Unemployment due to the time workers spend in job search, usually short-term and occurring when individuals are transitioning between jobs.

Natural Rate

Often referred to as the natural rate of unemployment, it is the level of unemployment consistent with a stable rate of inflation, where the labor market is in equilibrium.