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The Theory of PPP Suggests That If One Country's Price

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The theory of PPP suggests that if one country's price level falls relative to another's,its currency should


Definitions:

Outliers

Observations in data that are significantly distant from the majority of other data points, often indicating a measurement error or a novel phenomenon.

Gas Prices

The cost per unit volume of gasoline, often varying based on location, supply, demand, and taxes.

Distribution

The process by which goods are transported and delivered from a supplier to end consumer, or the statistical arrangement of values within a dataset.

Skewed

A description of a distribution that is not symmetrical, typically with a longer tail on one side of the peak than the other.

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