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Use the Empirical Rule to Describe Data That Are Bell Shaped
-The average score of local students on a college entrance exam is 110 , with a standard deviation of 5 . The distribution is roughly bell shaped. Use the Empirical Rule to find the percentage of local students with scores above 120 .
Specific Excise Tax
A tax levied on a particular good or service, usually based on a fixed amount per unit, such as per liter of alcohol or per pack of cigarettes.
Unitary
A term in economics used to describe a situation where a change in one factor leads to a proportionate change in another factor.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.
Specific Excise Tax
A fixed tax imposed on a specific quantity of a good, regardless of its price, typically applied to items such as alcohol and tobacco.
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