For a Uniform Probability Density Function

question 137

Multiple Choice

For a uniform probability density function,

• A)the height of the function cannot be larger than one
• B)the height of the function is the same for each value of x
• C)the height of the function is different for various values of x
• D)the height of the function decreases as x increases

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Definitions:

Demand Forecast

The process of estimating the quantity of a product or service that consumers will purchase in the foreseeable future.

Forecast Error

The difference between the actual outcomes and the predictions made by forecasting models, utilized to measure the accuracy of predictions.

Forecasts

Predictions about future events, such as sales, economic trends, or weather, based on historical data and analysis.

Expected Value

A calculated average of all possible values for a random variable, weighted by their probabilities, used in statistics and economics to determine the most likely outcome.