A Professor Receives,on Average,24

question 19

Multiple Choice

A professor receives,on average,24.7 e-mails from students the day before the midterm exam.To compute the probability of receiving at least 10 e-mails on such a day,he will use what type of probability distribution?

• A)binomial distribution.
• B)Poisson distribution.
• C)hypergeometric distribution.
• D)none of the above.

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Definitions:

Purchasing Power Parity

A theory in economics that suggests that in the absence of transaction costs and other barriers, identical goods should have the same price in different countries when prices are expressed in a common currency.

Prices

Monetary values assigned to products and services which are determined by the interaction of supply and demand in the market.

Exchange Rates

The value of one currency for the purpose of conversion to another.

Price Level

The cumulative average pricing for goods and services across various industries within the economy.