1. According to popular opinion, U.S. trade deficits indicate any or all of the following: a lack of U.S. competitiveness owing to low productivity, low-quality products, lower wages, superior technology, and unfair trade practices by foreign countries. Which of these factors are (is) likely to underlie the persistent U.S. trade deficits. Explain.

2. What would be a business example if you would want to find the probability distribution of a discrete random variable? What would be a good example if finding a continuous random variable probability distribution is a better choice?