Simulation Can Use Any Probability Distribution That the User Defines

question 21

True/False

Simulation can use any probability distribution that the user defines.

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Definitions:

Increase

To become or make greater in size, amount, intensity, or degree.

Demand Curve

A diagram illustrating the connection between the price of a commodity and the amount of it consumers want over a set period.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell at different prices, typically upward sloping.

Income

Money received, especially on a regular basis, for work, through investments, or from any other source, used to acquire goods and services.