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John Smith is planning to refinance his home mortgage to take advantage of the lower current interest rates. As part of the refinancing application, the
John Smith is planning to refinance his home mortgage to take advantage of the lower current interest rates. As part of the refinancing application, the bank needs to appraise Mr Smith's home. Mr Smith expects an appraisal of at least $ but no more than $ All values between $ and $ have the same probability of being the actual appraised value. What is the appropriate distribution for simulating appraisal values?
Question options:
a
continuous uniform distribution
b
exponential distribution
c
normal distribution
d
discrete uniform distribution
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