Examlex

Solved

Current Estimates Suggest That 75% of the Home-Based Computers in a Foreign

question 123

Short Answer

Current estimates suggest that 75% of the home-based computers in a foreign country have access to on-line services.Suppose 20 people with home-based computers were randomly and independently sampled.Find the probability that fewer than 10 of those sampled currently do not have access to on-line services.


Definitions:

Long Run

The long run is a period in economics wherein all inputs can be adjusted, and there are no fixed costs, allowing full operational flexibility.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider.

Good Or Service

Any tangible product (good) or intangible offering (service) that can be sold or provided in a market to satisfy the demand of a customer.

Marginal Revenue

The additional income received from selling one more unit of a product or service.

Related Questions