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Suppose That Elementary Education Creates a Positive Externality

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Suppose that elementary education creates a positive externality.If the government does not subsidize education,then


Definitions:

Interval Estimate

An estimate of a population parameter that specifies a range within which the parameter is expected to lie.

Confidence Interval

A variety of data points, taken from sample statistics, with a high likelihood of encasing an unknown population trait's value.

Defective Systems

Refers to systems or products that fail to meet quality standards or performance expectations due to flaws or errors.

Population Mean

The average value of a characteristic in a population.

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