What Is the Probability That the Random Variable Has a Value

question 236

Multiple Choice

What is the probability that the random variable has a value between 5.3 and 5.7?

• A) 0.3000
• B) 0.0500
• C) 0.1750
• D) 0.0750

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Definitions:

Government Purchases Multiplier

The ratio of change in aggregate economic output to a change in government spending, used to analyze the effect of fiscal policy on the economy.

Aggregate Demand

Total economic need for all goods and services within an economy, pegged at a designated price level during a chosen period.

Government Expenditures

The total amount of money spent by the government in a fiscal period, including spending on goods, services, and public projects.

Price Level

An overall average price for the full range of goods and services in the economy.