The Probability Distribution of a Random Variable That Is Defined

question 109

Multiple Choice

The probability distribution of a random variable that is defined to be the number of successes obtained in a random sample selected without replacement from a finite population of N elements that contains r successes and N - r failures is:

• A)Poisson
• B)Binomial
• C)Hypergeometric
• D)Discrete

---

Definitions:

Private Good

A product or service that is consumed by an individual without its benefits being available to others who have not paid for it, characterized by excludability and rivalry.

Public Good

A product that is non-excludable and non-rivalrous, meaning it can be consumed by multiple people without diminishing availability to others.

Total Quantity Demanded

The sum of all individual quantities of a good or service demanded at a given price level within a specified period.

Public Good

A product that is non-excludable and non-rivalrous in consumption, meaning its use by one individual does not reduce its availability to others.