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Using the growth accounting equation, if the growth rate of technology is 3 percent, the growth rate of labor is 2 percent, the growth rate of capital is 1 percent, and α = 0.25, then the growth rate of output can be estimated to be:
Mean Deviation
The average deviation for all scores from the mean of a distribution, calculated as the sum of the absolute value of the scores’ deviations from the mean divided by the number of scores.
Standard Deviation
Standard deviation is a measure of the dispersion or spread of a set of data points relative to its mean, indicating how spread out the data points are.
Mean
The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.
Highest Score
The maximum value or score observed in a set of data.
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