Examlex
If there is only one provider of electricity in a city,then that market is likely to fail due to:
Continuous Random Variable
A variable that can assume an infinite number of values in a continuous range.
Standard Deviation
A measure of the amount of variation or dispersion in a set of values, indicating how much the values differ from the mean of the set.
Normal Curve
Also known as the Gaussian distribution, a bell-shaped curve that is symmetric about the mean, showing the distribution of variables as naturally occurring in many processes.
Uniform Probability Density Function
A type of probability distribution in which all outcomes are equally likely, represented by a flat, constant function over its range.
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