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Exhibit 14-8 Aggregate demand and supply
-In Exhibit 14-8,if aggregate demand shifts from AD₁ to AD₃,
Variance
A measure of the dispersion or spread of a set of data points, calculated as the average of the squared deviations from the mean.
Mean
A measure of central tendency that is calculated by adding up all the values in a set and then dividing by the number of values.
Standard Deviation
An appraisal of the diversity or spread level exhibited by a collection of figures.
Normally Distributed
Refers to a probability distribution which is evenly shaped around the mean, indicating that occurrences of data close to the mean are more common than occurrences of data distant from the mean.
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