Which of the Following Statements Are False Regarding the Numbers

question 56

Multiple Choice

Which of the following statements are false regarding the numbers generated by the RAND function in Excel^®?

• A) Approximately 10% of the numbers will be between 0.0 and 1.0.
• B) Approximately 20% of the numbers will be between 0.50 and 0.70.
• C) Approximately 40% of the numbers will be between 0.20 and 0.60.
• D) Approximately 60% of the numbers will be between 0.15 and 0.75.
• E) All of these statements are false.

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Definitions:

Tax Per Unit

A specific tax levied on a product based on the number of units purchased, not the value of the purchase.

Efficiency Loss

The loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.

Deadweight Loss

Deadweight loss is an economic inefficiency resulting from a disparity between supply and demand, often caused by market interventions like taxes or price controls, resulting in potential benefits not realized by any party.