An Analyst Wants to Simulate Observations from a Uniform Distribution

question 9

Multiple Choice

An analyst wants to simulate observations from a Uniform distribution that has a lower limit of 60 minutes and an upper limit of 80 minutes.The analyst draws the random number 75 from a two-digit random number table.In terms of this uniform distribution,this is equivalent to a simulated value of:

• A)61
• B)65
• C)70
• D)75
• E)80

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Definitions:

Markdown

A reduction from the original or retail price of a product or service, often used to stimulate sales or clear inventory.

Real Estate Commission

The fee paid to a real estate agent or broker for their services, usually a percentage of the property's sale price.

Trade Discount

A reduction in the listed price of a good or service offered by a vendor to buyers in the same trade.

Retail Price

The total cost at which an item is sold to the consumer, including all applicable taxes and fees.