i. A random variable may be either discrete or continuous. ii. If Unique Buying Services has 100 employees, there might be 0, 1, 2, 3 up to 100 employees absent on Monday. In this case, the day of the week is the random variable.
iii. A discrete variable may assume fractional or decimal values, but they must have distance between them.
A) (i), (ii), and (iii) are all correct statements.
B) (i) is a correct statement but not (ii) or (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) (i), (ii), and (iii) are all false statements.

Question

Quizplus · Accepted Answer

Statement (i) is correct, as a random variable can be either discrete or continuous. 
Statement (iii) is also correct, as a discrete variable may assume fractional or decimal values, but they must have a distance between them. 
However, statement (ii) is not entirely correct, as the number of employees absent on Monday would be a discrete random variable, not the day of the week. The day of the week is a fixed parameter and not subject to chance or variation. Therefore, option C is the best choice.

I a Random Variable May Be Either Discrete or Continuous