Related to the Economics in Practice on P

question 83

Multiple Choice

Related to the Economics in Practice on p. 418: F. Scott Fitzgerald's The Great Gatsby is set in the "Roaring '20s." This decade in U.S. history was characterized by

• A) economic expansion and high unemployment.
• B) recession and high unemployment.
• C) economic expansion and low unemployment.
• D) the Great Depression and stagflation.

Gain proficiency in setting up and running simulations using Crystal Ball.

Learn to use data tables for Monte Carlo simulations in Excel.

Understand the differences and uses of Monte Carlo and Latin Hypercube sampling.

Learn to interpret and apply statistical techniques such as bootstrapping within Crystal Ball.

---

Definitions:

Res Ipsa Loquitur

A legal doctrine that allows for the presumption of negligence in a lawsuit if the accident could not have happened without negligence.

Negligence

The failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability for the negligent party.

Liability

Legal responsibility for one's actions or for a particular outcome, often involving compensation for harm or injury caused.

Bank Building

A structure specifically designed to house the functions and services of a banking institution.