Number of Motorcycles
the Probability Distribution of a Discrete Random

question 189

Essay

Number of Motorcycles
The probability distribution of a discrete random variable X is shown below,where X represents the number of motorcycles owned by a family.
$$\begin{array} { | c | c c c c | } \hline \boldsymbol { x } &0 & 1 & 2 & 3 \\\hline \boldsymbol { p } ( \boldsymbol { x } ) & 0.25 & 0.40 & 0.20 & 0.15 \\\hline\end{array}$$
-{Number of Motorcycles Narrative} Find the following probabilities:
a.
P(X > 1)
b.
P(X $\le$ 2)
c.
P(1 $\le$ X $\le$ 2)
d.
P(0 < X < 1)
e.
P(1 $\le$ X < 3)

Recognize the supply curve in the context of a perfectly competitive firm's cost curves.

Understand the impact of free entry and exit on the profits of firms in perfectly competitive markets.

Understand the concept and processes of directed thinking and its contrast with other mental processes.

Differentiate between symbolic and analogical representations and identify examples of each.

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Definitions:

Rivalry in Consumption

A situation where the consumption of a good or service by one individual reduces its availability for consumption by others.

Public Good

Offerings of goods or services to the whole society at no expense, facilitated by either the state or private entities, not pursuing profitability.

Public Good

Products or services supplied at no cost to all members of a community, by either governmental or private providers, without the goal of making a profit.

National Defense

Governmental and military actions, activities, and strategies aimed at protecting a country and its citizens from external threats and maintaining national security.