When Two Modes Occur in a Distribution, It Is Called

question 17

Multiple Choice

When two modes occur in a distribution, it is called a _________ distribution.

• A) multiple
• B) bimodal
• C) skewed
• D) normal

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Definitions:

Price-Discriminating

A practice where a seller charges different prices to different buyers for the same product or service, not based on the cost differences but on the buyer's willingness or ability to pay.

Pricing Difference

The variation in pricing for the same or similar products and services in different markets or segments.

Price Discrimination

A pricing strategy where a seller charges different prices to different customers for the same product or service, potentially maximizing revenue by targeting individual willingness to pay.

Insurance Company

A business entity that provides financial protection against losses or damages in exchange for premium payments.