Which of the Following Is Correct About a Probability Distribution

question 109

Multiple Choice

Which of the following is correct about a probability distribution?

• A) The sum of all possible outcomes must equal 1.0.
• B) The outcomes must be mutually exclusive.
• C) The probability of each outcome must be between 0.0 and 1.0 inclusive.
• D) All apply.

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Definitions:

Bottleneck Items

Items or stages in a process that significantly delay production or throughput due to their limited capacity or efficiency.

Total Cost of Ownership

Encompasses the comprehensive assessment of the direct and indirect expenses associated with acquiring and operating a product or system over its entire lifespan.

Acquisition Time

The duration it takes from recognizing a need for goods or services until they are fully delivered and operational.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require.