A Continuous Random Variable May Assume

question 18

Multiple Choice

A continuous random variable may assume

• A) any numerical value in an interval or collection of intervals.
• B) finite number of values in a collection of intervals.
• C) an infinite sequence of values.
• D) only the positive integer values in an interval.

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Definitions:

Number of Days' Sales

A financial metric that measures how quickly a company can convert its inventory into sales.

Inventory Costing

The method used to assign costs to inventory and cost of goods sold, including techniques such as First-In First-Out (FIFO), Last-In Last-Out (LIFO), and weighted average cost.

Estimated Rate

An approximation used to calculate various financial metrics, often used when the exact value is unknown.

Gross Profit

The earnings a company retains after subtracting the expenses related to the production and sale of its goods or the delivery of its services.