A Property of Continuous Distributions Is That

question 109

Multiple Choice

A property of continuous distributions is that:

• A)As with discrete random variables,the probability distribution can be approximated by a smooth curve.
• B)Probabilities for continuous variables can be approximated using discrete random variables.
• C)Unlike discrete random variables,probabilities can be found using tables.
• D)Unlike discrete random variables,the probability that a continuous random variable equals a specific value is zero [P(X = x)= 0].

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Definitions:

Freight-in Charges

Costs associated with transporting goods from the supplier to the buyer's location.

Sales Returns

Transactions where customers return previously purchased merchandise, leading to a reduction in the seller's revenue.

Average Cost Retail Inventory Method

A method used in retail to estimate ending inventory value by combining the cost-to-retail price ratio with the retail price of goods available for sale.

Ending Inventory

The cumulative worth of products ready for purchase at the close of a financial cycle.