When Using the Ratio and Proportion Method, You Should Remember

question 11

Multiple Choice

When using the ratio and proportion method, you should remember that ____.

• A) the terms of the second ratio must be in the same sequence as those in the first ratio
• B) multiply the inside terms (means) and then the outside terms (extremes)
• C) the ratio on the right contains the known quantities and the ratio on the left includes the unknown quantity
• D) either fractions or decimals may be used in the calculation

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Definitions:

Monte Carlo Simulation

A computational technique that utilizes random sampling and statistical modeling to estimate mathematical functions and mimic the operation of complex systems.

Probability Distributions

A mathematical function that outlines every potential value and their probabilities that a random variable might assume across a specified spectrum.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the goal of the investor's wealth maximization.

Modern Techniques

Contemporary methods used in various fields to improve efficiency, accuracy, and productivity.