Examlex
The percentage change in the demand for one good divided by the percentage change in the price of a related good is the
Uniform Distribution
A type of probability distribution in which all outcomes are equally likely over a given interval.
Probability
The measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1.
Subway Waiting
The time period a passenger waits for a subway train to arrive, typically considered as a random variable in transit studies.
Uniform Distribution
A type of probability distribution in which all outcomes are equally likely; any continuous range or discrete set of values has the same probability.
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