The Number of Electrical Outages in a City Varies from Day

question 17

Multiple Choice

The number of electrical outages in a city varies from day to day. Assume that the number of electrical outages x) in the city has the following probability distribution. $\begin{array}{ll}x&fx) \\0 & 0.80 \\1 & 0.15 \\2 & 0.04 \\3 & 001\end{array}$ The mean and the standard deviation for the number of electrical outages respectively) are

• A) 2.6 and 5.77
• B) 0.26 and 0.577
• C) 3 and 0.01
• D) 0 and 0.8

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Definitions:

Antitrust Policy

Regulations and laws that encourage competition by limiting monopolies, preventing mergers that would restrict competition, and other business practices that would reduce consumer welfare.

Tacit Collusion

An unspoken, informal agreement among competitors to limit competition and keep prices high.

Standard Oil

An American oil producing, transporting, refining, and marketing company established by John D. Rockefeller and partners in the 19th century, which became a highly influential and controversial monopoly.

Antitrust Policy

A set of laws and regulations aimed at promoting competition and preventing monopolies and unethical business practices.