According to the Empirical Rule,if the Data Form a "Bell-Shaped

question 151

Multiple Choice

According to the empirical rule,if the data form a "bell-shaped" normal distribution,percent of the observations will be contained within 1 standard deviation around the arithmetic mean.

• A)68.26
• B)75.00
• C)88.89
• D)93.75

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Definitions:

Efficient Amount

The quantity of a good or service that achieves the optimal balance between benefits and costs, maximizing societal welfare.

Marginal Social Cost

The additional cost imposed on society as a whole by producing one more unit of a good or service.

External Costs

External costs are expenses that are not borne by the individuals or organizations responsible but rather by society as a whole, often involving negative environmental impacts.

Efficient Level

The point at which a system operates at maximum capacity without waste, producing optimal output with the lowest input.