Classify the Following Random Variable According to Whether It Is

question 20

Multiple Choice

Classify the following random variable according to whether it is discrete or continuous.
-the speed of a car on a New York tollway during rush hour traffic

• A) continuous
• B) discrete

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Definitions:

Time Series

A sequence of data points recorded or collected at successive time intervals, often analyzed to identify patterns over time.

Quantitative

Pertaining to methods or data that is numerical and can be measured and analyzed statistically for facts and figures.

Econometric Models

Econometric Models are statistical models used in economics to test hypotheses or forecast future trends by using data and mathematical theories.

Forecasting Method Categories

Different approaches or techniques used to predict future aspects of business operations, such as sales, demand, and inventory requirements.