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Figure 1-1
-When the actual unemployment rate is likely to exceed the natural rate of unemployment,as in the time intervals between t1 and t2 and t3 and t4 in Figure 1-1 above,we can expect that
Sample Standard Deviation
A measure of the dispersion or variability of a set of sample data points around its mean.
Empirical Rule
The Empirical Rule, also known as the 68-95-99.7 rule, states that for a normal distribution, roughly 68% of data falls within one standard deviation of the mean, 95% within two standard deviations, and 99.7% within three standard deviations.
Coefficient of Variation
A statistical measure that shows the dispersion of data points or distribution relative to the mean, usually expressed as a percentage.
Standard Deviation
It quantifies the dispersion of a dataset relative to its mean, indicating how spread out the data points are.
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