Which of the Following Correctly Explains a Probabilistic Model

question 18

Multiple Choice

Which of the following correctly explains a probabilistic model?

• A)A probabilistic model shows the possibility of a range of outcomes.
• B)A probabilistic model gives a description of real world economic phenomena.
• C)A probabilistic model examines the changes in economic variables over a period of time.
• D)A probabilistic model is a model that is based on a value judgment.
• E)A probabilistic model is a model that is used to explain long-run economic phenomena

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Definitions:

Measure

Measure involves determining the size, amount, or degree of something using a standard unit or a tool designed for this purpose.

Well-Designed

Characterizing something that has been carefully planned and created to effectively serve a specific purpose or meet specific criteria.

Cognitive Overload

A mental state where an individual is overwhelmed by too much information or tasks, leading to decreased performance.

Textual And Visual

Involving both written words and graphical elements or images to convey information or messages.