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When Three-Year-Old Garret Is Colouring a Picture of a Rainbow

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When three-year-old Garret is colouring a picture of a rainbow, he carefully selects different colours for each stripe. When Garret is asked to name the colours he uses, he confidently answers "blue" each time. Garret can distinguish between the colours, even though he can't accurately name them yet. What does this suggest?


Definitions:

Seasonal Effects

Variations or patterns in statistical data that occur at regular intervals each year, often affecting business operations, sales, and marketing strategies.

Cyclical Effects

Economic fluctuations that occur in cycles due to periodic increases and decreases in the demand for goods and services.

Moving Averages

A statistical technique used to analyze time series data by creating a series of averages of different subsets of the full dataset, often used in stock market analysis.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified period.

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