Technology Enables More Consistent Prices Among Banks and Reduces the Likelihood

question 86

True/False

Technology enables more consistent prices among banks and reduces the likelihood of significant discrepancies in foreign exchange quotations among locations.

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Definitions:

Weighted Average

An average that attributes different weights to elements in the dataset, reflecting their varying levels of importance or frequency.

Expected Value

The long-run average value of repetitions of the experiment it represents, in probability and statistics.

Random Variable

A quantity whose numerical values emerge from unpredictable phenomena.

Discrete Random Variable

A variable that takes on a finite or countably infinite number of values, each with a quantifiable probability.