Describe Economic Feasibility Analysis

question 28

Essay

Describe economic feasibility analysis.What techniques are used in economic feasibility analysis?

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Definitions:

Continuity Correction

An adjustment made to a discrete distribution when approximating it by a continuous distribution, often used in binomial to normal distribution approximations.

Continuous Probability Curve

A curve that represents the distribution of a continuous random variable, indicating the probabilities of all possible values.

Continuity Correction

An adjustment made to a discrete distribution when approximating it to a continuous distribution.

Binomial Random Variable

A type of random variable that counts the number of successes in a fixed number of independent trials with the same probability of success.