Use the Data Given Below to Answer the Following Questions)

question 10

Multiple Choice

Use the data given below to answer the following questions) .
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) .
-The exponential distribution:

• A) has the density function f x) = e-λx , for x ≥ 0.
• B) models the time between randomly occurring events.
• C) has an expected value λ.
• D) is described by the familiar bell-shaped curve.

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Definitions:

Unemployment

The situation where individuals who are capable of working and actively seeking work are unable to find employment.

Prices and Wages

Refers to the levels of remuneration for labor and the cost of goods and services in an economy, which can impact inflation and purchasing power.

Natural Rate

The rate of a quantity, such as unemployment or interest, that prevails when the economy is in a long-term equilibrium.

Classical Dichotomy

The theoretical separation of nominal and real variables in classical economics, suggesting that changes in the money supply only affect nominal variables.