Name Five Common Probability Distributions

question 145

Essay

Name five common probability distributions.

---

Definitions:

Explicit Costs

Direct, out-of-pocket payments for resources employed in the production of goods or services, easily identified and measured.

Capital Intensive

A description of industries or businesses that require large amounts of capital investment compared to labor.

Alternative Technologies

Various methods or means of producing goods or services that differ from current practices, often to improve efficiency or sustainability.

Optimal Method

The best or most efficient approach to achieve a specific goal or solve a particular problem.