The table given below represents the output per hour of cookies and chilies in Ohio and Iowa.Table 2.4
-Voluntary free trade results in:
Definitions:
Median
The middle value in a set of data points arranged in ascending or descending order, or the average of the two middle values when there is an even number of data points.
Correlation Coefficient
A numerical measure that indicates the strength and direction of a linear relationship between two variables.
Mean
A measure of central tendency, calculated as the sum of all values in a dataset divided by the number of values.
Geometric Mean
The average of a set of numbers or quantities, computed by taking the nth root of the product of the numbers.
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