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Use the frequency distribution to find the mean and the sample standard deviation. Does the data form a normal distribution? Remember: if the data fall within 2% of the empirical rule of 68%, 95%, and 99.7% for one, two, or three standard deviations, respectively, they form a normal distribution.
Comparative Advantage
The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.
Domestic Opportunity Cost
The cost of forgoing the next best alternative use of a country's resources when choosing to produce a particular good or service.
Domestic Supply
The total amount of a good or service that is available from domestic producers within a country, influencing national prices and availability.
Domestic Demand
The overall desire for merchandise and services within a nation's boundaries.
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