A Description of the Range and Relative Likelihood of Possible

question 27

Multiple Choice

A description of the range and relative likelihood of possible values of an uncertain variable is known as a

• A)risk analysis.
• B)probability distribution.
• C)base-case scenario.
• D)simulation optimization.

Comprehend central tendency measures and how to calculate them.

Determine the appropriate measure of central tendency based on data characteristics.

Understand the concept of bimodality in distributions.

Know the calculation and application of the median.

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