It Is Appropriate to Use the Uniform Distribution to Describe

question 1

Multiple Choice

It is appropriate to use the uniform distribution to describe a continuous random variable x when:

• A)The area under the probability curve = 1.
• B)The probability curve f(x)> 0.
• C)The shape of the histogram of all possible values of x is nonsymmetrical.
• D)Relative frequencies of all possible values of x are about the same.

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Definitions:

Fixed Costs

Business expenses that remain constant, regardless of the level of production or sales activity.

Break-even Sales

The amount of revenue from sales that equals the total of variable and fixed costs, with no profit or loss.

Variable Cost

Variable costs are expenses that change directly and proportionally with the level of production or business activity, such as materials and labor costs.

Wage Contract

A formal agreement between an employer and an employee or labor union that outlines the terms of employment, wages, and conditions.