(7). A marginal change is a

Advanced Placement (AP)

1 answer:

Vanyuwa [196]2 years ago

7 0

Answer:

Economists use the term marginal change to describe small incremental adjustments to an existing plan of action. In simple words, Marginal changes are very small incremental changes which don't affect the larger (macroeconomics) totals except in aggregate.

Explanation:

Definitions by 2 examples

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In the Dominican Republic in August, the distribution of daily high temperature is approximately normal with mean 86 degrees Fah

Sonbull [250]

Answer:

The standard deviation of the distribution is 1.5ºF.

Explanation:

The known 68-95-99.7 rule, the empirical rule, states that, in a normal distribution 68% of the data are within one standard deviation from the mean, 95% of the data are within two standard deviations from the mean, and 99.7% are within three standard deviations:

68% ⇒ mean ± 1 standard deviation

95% ⇒ mean ± 2 standard deviations

99.7% ⇒ mean ± 3 standard deviation.

Hence, for the approximately normal distribution of the daily high temperatures, with mean 86º, and a range of 83ºF to 89ºF for 95% of the data, you can write: