Which of the Following Statements Is Correct

question 12

Multiple Choice

Which of the following statements is correct?

• A)The binomial and normal distributions are both discrete probability distributions.
• B)The binomial and normal distributions are both continuous probability distributions.
• C)The binomial distribution is a continuous probability distribution, and the normal distribution is a discrete probability distribution.
• D)The binomial distribution is a discrete probability distribution and the normal distribution is a continuous probability distribution.

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Definitions:

Average Total Costs

The total cost of production divided by the number of units produced, representing the average cost per unit.

Physical Capital

Tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.

Short Run

A period in economics during which at least one input is fixed while others are variable.

Average Total Costs

The total cost of production divided by the quantity of output produced. It reflects the per-unit cost of production.