The Three Elements of a Game Are

question 43

Multiple Choice

The three elements of a game are:

• A)the firm, the consumers, and the profit.
• B)the players, the strategies, and the payoffs.
• C)the model, the graph, and the costs.
• D)the costs, the revenue, and the profit.

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Definitions:

Probability Distribution

A function in statistics that identifies and quantifies all plausible values and their chances of occurrence for a random variable over a specific range.

Portfolio

A group of investments that comprise stocks, bonds, commodities, along with cash and cash equivalents such as mutual funds and exchange-traded funds (ETFs).

Coefficient of Correlation

A statistical measure that indicates the extent to which two variables change together.

Probability Distribution

A mathematical function outlining every potential value and associated probabilities a random variable may assume in a specified interval.