Your Friend Took an Introductory Statistics Class Last Year and Learned

question 16

Multiple Choice

Your friend took an introductory statistics class last year and learned all about density curves. She tells you that two requirements of a density curve are:

• A)the curve is always above the horizontal axis, and the area under the curve is one.
• B)the curve is always above the horizontal axis, and the curve is symmetric.
• C)the area above the horizontal axis must be larger than one if there is any area below the axis.
• D)the area below the curve and above the horizontal axis must exceed one.

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Definitions:

Commodity Money

Money that takes the form of a commodity with intrinsic value

Fiat Money

Money without intrinsic value that is used as money by government decree

Money

The set of assets in an economy that people regularly use to buy goods and services from other people.

Wealth

The accumulation of valuable economic resources and assets, including property, investments, and cash, that an individual or entity possesses.