Provide an Appropriate Response

question 98

Essay

Provide an appropriate response.
-List the two requirements for a probability histogram. Discuss the relationship between the sum of the probabilities in a probability distribution and the total area represented by the bars in a probability histogram.

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Definitions:

Book Value

The net value of a company's assets minus its liabilities, often in relation to an individual asset or the company as a whole.

Plant Assets

Long-term tangible assets used in the operation of a business and not expected to be converted to cash in the short term.

Land Improvements

Expenses for enhancements made to a parcel of land to make it more usable, which do not directly include the land itself but, for example, landscaping, parking lots, and fences.

Depreciated

Refers to the reduction in value of an asset over time due to wear and tear or obsolescence.