In Order to Generate Random Numbers in Excel from a Discrete

question 48

Multiple Choice

In order to generate random numbers in Excel from a discrete distribution with a finite number of possible values and corresponding probabilities,we can use

• A) only the RAND function
• B) only the VLOOKUP function
• C) only the VLOOKDOWN function
• D) the RAND function along with a VLOOKUP function

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Definitions:

Central Government

The government entity or authority that holds the highest level of governance within a nation, responsible for national policies and administration.

Consumer Sovereignty

The theory that consumer preferences and choices dictate the production and sale of goods and services in a market.

Laissez-Faire Economy

An economic system where transactions between private parties are free from government intervention such as regulations, privileges, tariffs, and subsidies.

Command Economy

An economic system where the government makes all decisions on the production and consumption of goods and services.