Valid Reasons for Using Credit Include All of the Following

question 112

Multiple Choice

Valid reasons for using credit include all of the following except

• A)medical emergency
• B)acquiring a car to return to the workforce
• C)borrowing for a higher education
• D)borrow for everyday living expenses
• E)buying an item now will cost less than in the future

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Definitions:

Binomial Distribution

A probability distribution that describes the number of successes in a fixed number of independent trials, each with the same probability of success.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events occur with a constant mean rate and independently of the time since the last event.

Hypergeometric Probability

The probability of a certain number of successes in draws from a finite population without replacement, where each draw can result in a success or a failure.

Continuous Probability

The probability of outcomes in a continuous range of values rather than discrete outcomes.