A Researcher Takes a Sample of Three Students from a Playground

question 2

Short Answer

A researcher takes a sample of three students from a playground and asks each of them what grade they are in. The students' answers are 3, 3, and 3. What is the variance for this data?
variance: __________

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Definitions:

Trade

The exchange of goods, services, or both between two or more parties, often internationally or domestically to mutual advantage.

Short-run

A time period in economics during which at least one input, such as factory size or capital, is fixed, and firms can adjust production levels only by changing variable inputs like labor.

Inflation

The growth rate of general prices for goods and services, which sequentially leads to a reduction in the ability to make purchases.

Unemployment

The situation when individuals who are capable of working and are actively seeking work are unable to find employment.