If Price Differences Are Not Substantial, There Will Not Be

question 3

True/False

If price differences are not substantial, there will not be a gray market.

---

Definitions:

Standard Deviation

A way of measuring how much variety or distribution exists among numerical values.

Expected Value

In probability theory, a weighted average of all possible values of a random variable, reflecting its anticipated outcome.

Sample Proportion

A statistic that estimates the fraction of the population that has a certain trait, characteristic or behavior, calculated as the number of observations in the sample with that trait over the total sample size.

Probability

A measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1.