Which of the Following Is Correct About a Probability Distribution

question 40

Multiple Choice

Which of the following is correct about a probability distribution?

• A)The sum of all possible outcomes must equal 1.0.
• B)The outcomes must be mutually exclusive.
• C)The probability of each outcome must be between 0.0 and 1.0 inclusive.
• D)All of these answers are correct.

---

Definitions:

Managing Partner

A member of a partnership who has the authority and responsibility for managing the everyday operations of the business.

Partnership Assets

Assets or property owned jointly by partners in a business partnership, used for the business’s operations.

Fiduciary Duty

An obligation to act in the best interest of another party. For instance, a fiduciary duty exists between a trustee and the beneficiaries of the trust.

Competing Business

An enterprise engaged in the same industry or market as another business, striving to achieve superiority in sales, product, and presence.