Because Measurements of Random Variables Are Rounded to Some Value,mathematical

question 122

Multiple Choice

Because measurements of random variables are rounded to some value,mathematical theory leads us to conclude that in reality,random variables for all applied problems are:

• A)linear.
• B)discrete.
• C)coefficients.
• D)medians.

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Definitions:

Post Hoc, Ergo Propter Hoc

A logical fallacy that assumes a cause-and-effect relationship because one event follows another in time.

Labor Market

A marketplace where employers find workers and workers find jobs; the interaction determines wages, employment levels, and working conditions.

Inductive Reasoning

A method of reasoning in which specific observations or measurements are used to make general conclusions.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the outcome of the economy or goals of public policy should be.