An Undergraduate Study Committee of 6 Members at a Major

question 199

Multiple Choice

An Undergraduate Study Committee of 6 members at a major university is to be formed from a pool of faculty of 18 men and 6 women.Which of the following distributions would you use to determine the probability that half of the members will be women?

• A)Hypergeometric distribution.
• B)Poisson distribution.
• C)Uniform distribution.
• D)Binomial distribution.

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Definitions:

Unit Elastic

A situation in which the percentage change in quantity demanded is equal to the percentage change in price.

Inelastic

Describes a situation where the demand for or supply of a good or service is relatively unresponsive to changes in price.

Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in its price.

Productive Capacity

The maximum output a company or economy can produce with its current resources and technology, without causing inflation.