Provide an Appropriate Response

question 10

Essay

Provide an appropriate response.
-The normal monthly precipitation (in inches) for August is listed for 20 different U.S. cities. Find any outliers and provide an explanation for them. $$\begin{array} { l l l l l } 0.4 & 1.0 & 1.5 & 1.6 & 2.0 \\2.2 & 2.4 & 2.7 & 3.4 & 3.4 \\3.5 & 3.6 & 3.6 & 3.7 & 3.7 \\3.9 & 4.1 & 4.2 & 4.2 & 7.0\end{array}$$

---

Definitions:

Nominal Interest Rate

The nominal interest rate refers to the percentage increase in money that the borrower pays the lender, excluding any adjustments for inflation.

Real Interest Rate

The inflation-adjusted interest rate, representing the actual borrowing cost and the genuine earnings for savers.

Real Value

The worth of a good or service adjusted for inflation, showing its true purchasing power.

Output

The amount of goods or services produced by a company, country, or economic system within a certain period.