Which of the Following Are Required Conditions for the Distribution $\le$

question 110

Multiple Choice

Which of the following are required conditions for the distribution of a discrete random variable X that can assume values x_i?

• A) 0\(\le\) p(x_i)\(\le\) 1 for all x_i
• B) \[\sum _ { \text {all } x _ { 1 } } p \left( x _ { i } \right) = 1\]
• C) Both a and b are required conditions.
• D) Neither a nor b are required conditions.

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Definitions:

Spending Variance

The difference between the actual amount of money spent and the budgeted amount, often analyzed in cost management.

Customers Served

The total number of customers who receive service or goods from a company within a specified period.

Fixed and Variable Cost

Costs that remain constant regardless of the level of production or sales (fixed) and costs that change in proportion to the level of production or sales (variable).

Total Expenses

The sum of all costs and expenses incurred by a business, including cost of goods sold and operational expenses.