Which Risk Solver Platform (RSP) Function Will Generate Random Numbers

question 14

Multiple Choice

Which Risk Solver Platform (RSP) function will generate random numbers between 3 and 7 from a continuous uniform distribution?

• A)=PsiConUniform(3, 7)
• B)=PsiUniDist(3, 7)
• C)=PsiUniform(3, 7)
• D)=PsiTruncate(3, 7)

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Definitions:

Sample Mean

The average value of a sample set of numbers, estimated from a subset of a population.

Margin of Error

Represents the maximum amount by which the sample results are expected to differ from the actual population parameter.

T Distribution

A probability distribution used in statistics for hypothesis testing, especially with small sample sizes or unknown population standard deviations.

T Distribution

A type of probability distribution that is symmetric and bell-shaped but has heavier tails than the normal distribution, used especially in small sample analysis.