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If the market price for a crop is $4.00 a bushel and the price support is $3.00, then raising the price support to $5.00
Normal Model
A normal model is a statistical distribution that is symmetric, bell-shaped, and describes how different variables are distributed, assuming that most occurrences take place around the mean.
Probability
A measure quantifying the likelihood that a specific event will occur, typically expressed as a number between 0 and 1.
Uniform Density
A measure indicating that mass is evenly distributed throughout a substance or object, so each unit volume has identical mass.
Probability
Probability refers to the measure of the likelihood that an event will occur, quantified as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
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