Use the Table Below to Answer the Following Question(s)

question 1

Multiple Choice

Use the table below to answer the following question(s) .
Below is the spreadsheet for a project selection model.

-What is the value of mean obtained from the simulation results? [Hint: Choose the approximate value.]

• A)$ 405,897
• B)$ 358,138
• C)$ 266,603
• D)$ 452,785

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Definitions:

Continuous Random Variable

A variable that can take on an infinite number of values within a given range, representing quantities that can be subdivided indefinitely.

Probability Function

A mathematical function that determines the likelihood of various potential outcomes for an experiment.

Interval

A range of numbers between two specified limits, often used in the context of confidence intervals in statistics.

Relative Frequency

The ratio of the number of times a value occurs to the total number of observations in a dataset.