In the Private Sector,all Transactions Are Voluntary,so

question 32

Multiple Choice

In the private sector,all transactions are voluntary,so

• A) there are always winners and losers.
• B) often too few transactions will take place.
• C) presumably all parties benefit.
• D) individuals are required to participate.

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Definitions:

Random Variable

A variable whose possible values are numerical outcomes of a random phenomenon.

Standard Normal Variable

A normal random variable with a mean of zero and a standard deviation of one; used as a basis for comparison with other normal distributions.

Probability

A numeric expression ranging from 0 to 1 that indicates how probable an event is to take place.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance.