The Area Under the Curve of a Valid Continuous Probability

question 133

Multiple Choice

The area under the curve of a valid continuous probability distribution must ____________.

• A)Equal 1
• B)Be between 0 and 1
• C)Be infinite
• D)Be less than 1

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Definitions:

Bullwhip Effect

A phenomenon in supply chain management where small changes in demand at the consumer end cause larger magnifications in demand upstream.

Human Resource Supply

The availability of individuals with the skills and qualifications required to meet the labor needs of employers.

External Supply

Members of the workforce not currently employed by the firm, who are currently undergoing training, working for competitors, members of unions or professional associations, in a transitional stage, between jobs, or unemployed.

HR Professionals

Individuals or teams specializing in managing recruitment, training, performance, and well-being of employees within an organization.