We Sometimes Use Discrete Distributions in Place of Continuous Distributions

question 10

Multiple Choice

We sometimes use discrete distributions in place of continuous distributions:

• A) because they are more accurate.
• B) because they are more simple.
• C) when we don't know the mean and variance of the distribution.
• D) when we need to generate a histogram

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Definitions:

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The final price agreed upon by the buyer and seller after discussions or bargaining, reflecting both parties' interests.

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is a strategy that yields the best outcome for a player, regardless of the opponent's actions, in game theory and economic analysis.

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A partial refund to someone who has paid too much for tax, rent, or a utility.

Dominant Strategy

In game theory, a strategy that is the best for a player regardless of the strategies chosen by other players.