The Normal Distribution Is Completely Described by Its Mean and Standard

question 52

True/False

The normal distribution is completely described by its mean and standard deviation where 50 percent of the distribution's probability is less than the mean and 50 percent greater than the mean.

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Subsidies

Financial assistance grants or tax breaks provided by the government to support businesses, organizations, or individuals, encouraging production or consumption of certain goods and services.

Computer Chips

Small pieces of semiconductor material (usually silicon) with an integrated circuit (IC) used in electronic devices to perform computing tasks and other functions.

Negative Externality

A situation where a third party suffers costs from an economic transaction in which they are not directly involved.

Patent

A government-granted exclusive right to an inventor, allowing them the sole right to make, use, and sell an invention for a certain period of time.