Yes, that's correct! The shaded part of projections is often used to represent the standard deviation, which is a measure of the amount of variation or dispersion of a set of values. The standard deviation provides a way to quantify the spread of the data around the mean, and it is often used to represent the uncertainty or error in a set of measurements or predictions.

In a graph, the standard deviation is typically shown as the shaded region around a line, such as a mean or median, that represents the expected value of a set of data. The size of the shaded region is proportional to the standard deviation, with larger shaded regions indicating a greater degree of uncertainty. By convention, the shaded region typically encompasses 68% of the data, which means that there is a 68% probability that a value drawn from the data set will fall within the shaded region.
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