If We Have Four Outcomes and Use a Simple Average

question 30

Multiple Choice

If we have four outcomes and use a simple average to calculate the mean, we are assuming each outcome has what chance of occurring?

• A)four percent
• B)100 percent
• C)25 percent
• D)not enough information given

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Definitions:

Sales

The total receipts a company generates from selling its goods or services over a certain period of time; also often referred to as revenue.

Exchange Rates

A financial metric that determines how much one currency is worth in terms of another. It facilitates international trade and investment.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in a net profit or loss.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or wear and tear.