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:

Service Revenue

The income a company earns from providing services as opposed to selling physical goods, and it is recorded as it is earned in the accounting period.

Balance Sheet Columns

Sections in a balance sheet that categorize assets, liabilities, and shareholder's equity at a specific point in time.

Unearned Revenue

Money received by a company for goods or services not yet delivered or provided; often considered a liability.

Classified Balance Sheet

A financial statement that organizes a company's assets, liabilities, and shareholders' equity into subcategories, providing a detailed snapshot of the company’s financial health at a specific point in time.