Examlex
Carefully explain why there are gains from intraindustry trade.
Probability
The statistical likelihood that a specific event will take place, calculated as a fraction or a percentage between 0% (never happening) and 100% (always happening).
Normal Model
A statistical model, also called the normal distribution, that describes how continuous data is distributed, shaped like a symmetric bell curve.
Standard Deviations
Measures that quantify the amount of variation or dispersion of a set of data values from the mean.
Probability
The determination of how probable an event is, denoted as a number from 0 to 1.
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