Let X Represent the Number of Computers in Australian Households $$\begin{array} { c | c c c c c } x & 1 & 2 & 3 & 4 & 5 \\\hline p ( x ) & .25 & .33 & .17 & .15 & .10\end{array}$$

question 4

Essay

Let X represent the number of computers in Australian households who own computers. The probability distribution of X is as follows: $$\begin{array} { c | c c c c c } x & 1 & 2 & 3 & 4 & 5 \\\hline p ( x ) & .25 & .33 & .17 & .15 & .10\end{array}$$ What is the probability that a randomly selected Australian household will have:
a. more than 2 computers?
b. between 2 and 5 computers, inclusive?
c. fewer than 3 computers?

Recognize the importance of brand image and equity in establishing a competitive advantage.

Identify different types of marketing such as viral, relationship marketing, and their effectiveness.

Understand the emotional impact of pricing on consumer perception of quality.

Assess the application and effects of pricing strategies including skimming, penetration, and cost-plus in the market.

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Definitions:

Differentiation

The process of distinguishing a product or service from others to make it more attractive to a particular target market.

Economically Productive

Activities or processes that generate goods or services which have value and contribute to the economy.

Convey Information

The act of communicating or transmitting information from one entity to another.

Service Industries

Sectors of the economy that provide intangible products such as healthcare, education, and financial services.