Which of the Following Is NOT a Characteristic of Probability

question 23

Multiple Choice

Which of the following is NOT a characteristic of probability?

• A) Probability varies between 0 and 1.
• B) Probability can never be negative.
• C) Probability can be stated as a fraction or decimal.
• D) Probability is most useful for describing fixed events.

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Definitions:

Machine Retirement

The process of removing a machine or equipment from active service due to obsolescence, inefficiency, or wear and tear.

Profitability

The ability of a business to generate more revenue than the expenses incurred, resulting in financial gain.

Specific Machine

Refers to a particular piece of equipment or machinery that is designated for a specific task or operation within a manufacturing or production process.

FCFS Scheduling Rule

"First Come, First Served" scheduling rule, used in operations management to assign service or resources to entities on the basis of their arrival order.