Absent Any Possibility of Repeat Orders,if the Default Probability Is

question 60

True/False

Absent any possibility of repeat orders,if the default probability is less than the profit margin,you should extend credit for the sale.

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Definitions:

Mutually Exclusive

Events or outcomes that cannot happen at the same time, meaning the occurrence of one event excludes the possibility of the other event.

Relative Frequency

The ratio of the number of times a particular value or category occurs to the total number of observations.

Total Number

The aggregate count of all units or elements in a set or group.

Qualitative Variable

A variable that describes or categorizes an attribute or quality of an element, often represented as names or labels and not quantifiable.