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Which class had the smallest standard deviation?
Base Year
A specific year chosen as a standard of comparison for financial or economic data, allowing for the calculation of changes or growth over time.
Teddy Bears
Stuffed toys designed to resemble a bear, often used as comfort objects by children and collectors alike.
Consumer Price Index
A benchmark for assessing the weighted average expenses of various consumer items and services like food, healthcare, and transportation.
Substitution Bias
A bias in measuring the cost of living or inflation that arises from the substitution of relatively cheaper goods for more expensive ones by consumers.
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