(I a Continuous Random Variable Can Assume One of an Infinite

question 5

Multiple Choice

(i. A continuous random variable can assume one of an infinite number of values within a specific
Range.
(ii. The sum of the probabilities of the mutually exclusive outcomes of a probability distribution must
Equal one.
(iii) In a binomial experiment, the probability of a failure equals (1 - probability of success) .

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Annual Amortization

The systematic reduction of the cost (or other basis) of an intangible asset over a specified time period.

Retained Earnings

The portion of net income left over for the business after it has paid out dividends to its shareholders.

Initial Value Method

A method of accounting in which an investment is initially recorded at its cost without adjusting for changes in the market value over time.

Net Income

The conclusive profit of a corporation once revenue has had taxes and expenses subtracted from it.