Identify the following variables as either discrete or continuous. (a) The interest rates available in the marketplace
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(a) The interest rates available in the marketplace for jumbo certificates of deposit
(b) Optimistic, most likely, and pessimistic estimates of salvage value
(c) The number of cars that are red in the first 100 that pass through a certain intersection
(d) The weight of the purse or wallet carried when a person leaves her or his residence
(e) The gallons of water that evaporate from Lake Erie in a given day
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...
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