All of the Following Statements Are TRUE Regarding Probability Distribution

question 97

Multiple Choice

All of the following statements are TRUE regarding probability distribution EXCEPT:

• A)Small businesses tend to experience more volatility than large organizations and can therefore benefit greatly from using probability distributions to estimate future outcomes and events.
• B)The normal distribution has wide applications in business.
• C)Excel offers many probability distribution functions with wide applications across many different industries of business, science, engineering, and mathematics.
• D)A normal distribution is one of the least used distributions in statistics.

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Definitions:

Stable

Characterized by consistency, reliability, and lack of volatility, often used to describe economic, environmental, or psychological conditions.

Contrast

In the context of comparison, this term refers to highlighting the differences or disparities between two or more entities, concepts, or phenomena.

Victimless Crimes

Legal offenses where all involved parties consent and no direct victim is apparent, such as gambling or drug use in certain contexts.

Conflict Theory

A sociological perspective that views social life as a competition, emphasizing the role of power and inequality in shaping social relations.