For Any Probability Distribution, the Sum of Probabilities Is Always

question 11

Multiple Choice

For any probability distribution, the sum of probabilities is always

• A) 0
• B) 0.5
• C) 1
• D) equal to the standard deviation.

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Definitions:

Business Cycle

The business cycle refers to the fluctuations in economic activity and growth that an economy experiences over time, marked by periods of expansion and contraction.

Economic Activity

entails the production, distribution, and consumption of goods and services in an economy.

Employment

A situation in which an individual has a paid job.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output).