Which of the following statements are true about probability…
Which of the following statements are true about probability models? i. Probability models are used to quantify the risks involved in making decisions based on samples. ii. Probability models can only be used if you have finite population. iii. The normal distribution is an example of a continuous probability distribution. iv. A probability model can be used to predict how likely it is to have a defective part in a batch. v. Probability models cannot be used to model measurements made on a sample.
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