The Number of Electrical Outages in a City Varies from Day

question 14

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. $$\begin{array} { c c } x & f ( x ) \\\hline 0 & 0.80 \\1 & 0.15 \\2 & 0.04 \\3 & 0.01\end{array}$$ The mean and the standard deviation for the number of electrical outages (respectively) are _____.

• A) 2.6 and 5.77
• B) 0.26 and .577
• C) 3 and .01
• D) 0 and .8

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Definitions:

Exchanges Of X For Y

Transactions or trades where one good, service, or asset (X) is traded for another (Y).

Utility Function

An economic term describing how consumers rank different bundles of goods or levels of happiness.

Exchanges Of X For Y

Exchanges of X for Y refer to transactions where one item or service (X) is traded for another item or service (Y), highlighting the concept of barter or trade in economics.

Units Of X

A hypothetical measure used in economic models and problems to quantify the amount of a good or service, referred to as Good X.