For a Normal Curve, Two Standard Deviations from the Mean

question 43

Multiple Choice

For a normal curve, two standard deviations from the mean comprises what percentage of the observations?

• A) 48%
• B) 72%
• C) 95%
• D) 99%

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Definitions:

Double Coincidence of Wants

A situation in barter economies where two parties each hold an item the other wants, allowing them to exchange goods directly.

Specialization of Labor

A process in which individuals or groups of workers concentrate on specific tasks, aimed at increasing efficiency and output.

Transactions Costs

Expenses incurred when buying or selling goods and services, including costs beyond the price of the product, such as time, effort, and fees.

Savings and Loan Debacle

A financial crisis in the 1980s and 1990s involving the collapse of savings and loan associations due to risky business practices and regulatory failures.