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If soybean farmers know that the demand for soybeans is inelastic,in order to increase their total revenues they should
Normally Distributed
Refers to a statistical distribution that is balanced around the mean, indicating that values close to the mean occur more often than those far from the mean.
Mean
The mean is the average of a set of numbers, calculated by dividing the sum of these numbers by their count.
Normally Distributed
Describes a distribution that follows a bell-shaped curve, where the mean, median, and mode are equal; commonly used in probability and statistics.
Standard Deviation
A measure of the amount of variation or dispersion in a set of values, indicating how much the values deviate from the mean of the set.
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