A panel of 65 economists was asked to predict the average unemployment rate for the upcoming year. The results of the survey follow. Unemployment Rate, % 10.9 11.2 11.5 11.8 12.1 12.4 12.7 Economists 3 5 19 14 11 On the basis of this survey, what does the panel expect the average unemployment rate to be next year? (Round your answer to two decimal places.) %

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