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SCENARIO 16-15
Given below are the average prices for three types of energy products for five consecutive years.
-Referring to Scenario 16-15,what are the simple price indices for electricity,natural gas and fuel oil,respectively,in year 2 using year 5 as the base year?
Normal Distributions
A symmetric probability distribution around the mean, demonstrating that frequencies decrease as distances from the mean increase.
Standard Normal Distribution
A probability distribution with a mean of 0 and a standard deviation of 1, often used in statistical analysis.
Standard Deviation Units
Units of measurement derived from the standard deviation, used to quantify the variation or dispersion of a set of data points.
Bell-Shaped
Describes the graphical representation of a normal distribution, where most values cluster around a central peak and the distribution tapers off symmetrically towards both tails.
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