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What is the value of private consumption as share of gdp

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Reference no: EM131692603

Question: Private consumption as a share of GDP is a random quantity that follows a roughly normal distribution. According to an article in BusinessWeek, for the United States that was about 71%. Assuming that this value is the mean of a normal distribution, and that the standard deviation of the distribution is 3%, what is the value of private consumption as share of GDP such that you are 90% sure that the actual value falls below it?

Reference no: EM131692603

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