Using the following table,calculate the unplanned change in inventories for each level of GDP,and explain what will happen to GDP.The numbers in the table are in billions of dollars.
Definitions:
Uniformly Distributed
Uniformly distributed indicates that all outcomes in a data set or probability distribution have the same or nearly equal chance of occurring.
Standard Deviation
A tool to determine the degree of difference or dispersion within a batch of data.
Standard Normal
A type of normal distribution with a mean of 0 and a standard deviation of 1.
Random Variable
A numerical value variable resulting from random phenomena.
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