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The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.) . They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stop watch to record the time they spent in line. The times recorded were as follows (in minutes)
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
-What is the IQR?
Tariffs Decreased
Refers to a reduction in taxes imposed on imported goods, which can lead to increased trade between countries and potentially lower prices for consumers.
U.S. Imports
Goods and services purchased by residents of the United States that are produced in and brought from other countries.
Long-Run Effect
The ultimate impact of economic policies or market changes, characterized by all inputs and outputs being variable and firms fully adjusting to new conditions.
Tariff on Imports
A levy placed on imported goods and services by a government to shield local industries from overseas competition.
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