Values Are the Rules That Govern People's Behavior and Identify

question 14

True/False

Values are the rules that govern people's behavior and identify the "goods" that are worth seeking.

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Definitions:

Uniform Probability Distribution

A distribution in which all outcomes are equally likely to occur within a certain range.

Expected Value

The long-run average value of repetitions of the same experiment or random trial.

Triangular Distribution

A probability distribution with a shape formed by a triangle, which is specified by a minimum, a maximum, and a mode value.

Expected Value

The weighted average of all possible values of a random variable, taking into account their probabilities.