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The original cost and expected useful life of old assets are critical considerations in replacement decisions.
Bell Shaped
Descriptive of a graph or distribution which is symmetrical and has its highest point in the middle, tapering off evenly on both sides, characteristic of a normal distribution.
Normal Distribution
A bell-shaped probability distribution characterized by its mean and standard deviation, frequently occurring in nature and statistics.
Symmetric
A characteristic of an object or a distribution in which it is identical in shape on both sides of a central axis.
Skewed
Describing a distribution that is not symmetrical, where one tail is longer or fatter than the other, indicating a deviation from the normal distribution.
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