The Continuous Random Variable X Is Uniformly Distributed Over the Interval

question 173

Multiple Choice

The continuous random variable X is uniformly distributed over the interval [a,b].The mean of the probability distribution of X is:

• A)(a + b)/ 2
• B)n - ab
• C)(b - a)/ 2
• D)(a + b)/ n

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Definitions:

Rising Costs

An economic situation where the prices of goods, services, or factors of production increase over time.

FIFO Method

"First In, First Out," an inventory valuation method where goods purchased or produced first are sold or consumed first.

Inventory Costing Methods

The techniques used to value and account for inventory, including first-in-first-out (FIFO), last-in-first-out (LIFO), and weighted average cost methods.

Perpetual System

An inventory management method where inventory quantities and cost of goods sold are updated continuously with each sale or purchase.