For the Following Data, There Is One Outlier: 1, 1

question 47

True/False

For the following data, there is one outlier: 1, 1, 2, 2, 3, 50

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Definitions:

Economy

The large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

Marginal

Refers to the change or difference in an economic variable when altering another variable by a small or marginal amount.

Welfare Dependency

A situation where individuals or families continually rely on government welfare programs for their income over long periods, rather than seeking employment.

Billionaires

Individuals whose net worth or wealth is equal to or exceeds one billion units of a currency.