In Excel, the RAND() Function Generates Either a 0 or a 1

question 11

True/False

In Excel, the RAND() function generates either a 0 or a 1, purely at random.

---

Definitions:

Equitable

Characterized by fairness and impartiality; the fair distribution of resources and opportunities.

Efficient

Describes a process that achieves its goals with the least waste of time and effort.

Lump-Sum Tax

A tax that is the same amount for every person.

Deadweight Loss

A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.