Determine Whether the Following Is a Probability Distribution $$\begin{array} { c | c } \mathrm { x } & \mathrm { P } ( \mathrm { x } ) \\\hline 1 & 0.037 \\2 & 0.200 \\3 & 0.444 \\4 & 0.296\end{array}$$

question 112

Essay

Determine whether the following is a probability distribution. If not, identify the requirement that is not satisfied.
- $$\begin{array} { c | c } \mathrm { x } & \mathrm { P } ( \mathrm { x } ) \\\hline 1 & 0.037 \\2 & 0.200 \\3 & 0.444 \\4 & 0.296\end{array}$$

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Definitions:

Spreadsheet Simulation

A technique involving the use of spreadsheet software to model and analyze complex systems or processes.

Target Return

A pricing strategy where the price is set based on a desired return on investment or profit margin.

Target Return-on-investment Pricing

A pricing strategy aiming to set prices based on the expected return on investment (ROI) that is targeted by the company.

Annual Target ROI

The specific return on investment a company aims to achieve within one fiscal year.