Which Excel formula is used to generate values for the number of bidders when using an integer uniform distribution?

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Multiple Choice

Which Excel formula is used to generate values for the number of bidders when using an integer uniform distribution?

Explanation:
To model an integer uniform distribution, you want random integers that are equally likely across a specified range. RANDBETWEEN(low, high) returns exactly that: a random integer between the two endpoints, inclusive, with each value having the same probability. For example, if the number of bidders is assumed to be between 3 and 8, use RANDBETWEEN(3, 8). RAND generates a continuous value between 0 and 1, which would require additional steps to convert to integers and could affect the distribution. ROUND could be used after scaling a random value, but it isn’t a dedicated way to produce a true discrete uniform distribution. NORM.INV yields values from a normal distribution, not uniform.

To model an integer uniform distribution, you want random integers that are equally likely across a specified range. RANDBETWEEN(low, high) returns exactly that: a random integer between the two endpoints, inclusive, with each value having the same probability. For example, if the number of bidders is assumed to be between 3 and 8, use RANDBETWEEN(3, 8).

RAND generates a continuous value between 0 and 1, which would require additional steps to convert to integers and could affect the distribution. ROUND could be used after scaling a random value, but it isn’t a dedicated way to produce a true discrete uniform distribution. NORM.INV yields values from a normal distribution, not uniform.

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