Explain the Characteristics and Applications of Discrete Probability Distributions Use

question 10

Multiple Choice

Explain the characteristics and applications of discrete probability distributions Use the data given below to answer the following question(s) .
On an average, the number of students that choose to study Arts subjects at Greyin Tide University is 17 each year. (Hint: Use Poisson distribution formula) .
-What is the probability of 8 takers or less for Arts subjects in the coming year?

• A) 0.00716
• B) 0.01260
• C) 0.03164
• D) 0.04744

Understand the concept of total surplus in a market without and with international trade.

Comprehend how trade impacts consumer and producer surplus.

Analyze the effects of tariffs on domestic markets, including government revenue and deadweight loss.

Understand how prices adjust when a country begins to trade internationally.

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Definitions:

Mental Process

Operations of the mind involving thinking, perceiving, remembering, and understanding, often influencing behavior.

Investigator

A person who carries out a systematic inquiry or study to discover facts or information.

Illusory Correlation

is the perception of a relationship between two variables even when no such relationship exists.

Premonition

A strong feeling that something is about to happen, especially something unpleasant.