The table given below reports the value of various international transactions in Germany for the year 2011.The negative sign denotes the outflow of euros from Germany. Table 6.1
Refer to Table 6.1.Compute the merchandise trade balance of Germany in 2011.
Definitions:
Continuous Random Variable
A random variable that can take an infinite number of possible values.
Continuous Probability Distribution
A type of probability distribution where the possible outcomes form a continuum and can take on any value within a given range.
Probability Density Function
Probability density function is a function that describes the likelihood of a random variable to take on a given value, primarily used in continuous probability distributions.
Continuous Random Variable
A continuous random variable is a variable that can take an infinite number of values within a given range, representing quantities that can be measured, not just counted.
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