Which of the Following Characterizes a Random Variable Having Two

question 1

Multiple Choice

Which of the following characterizes a random variable having two possible outcomes, each with a constant probability of occurrence?

• A) Beta distribution
• B) Bernoulli distribution
• C) Poisson distribution
• D) Binominal distribution

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Definitions:

Responsibility Centres

Sections or divisions of a business for which a manager has authority and responsibility, typically including revenue, expense, profit, and investment centers.

Seasonal

Relating to or dependent on a particular season or time of year, often affecting businesses, climate, or activities in a cyclical manner.

Cyclical

Characterized by or subject to cycles, often used to describe economic activities that fluctuate with the overall state of the economy.

Trend Factors

Variables or elements that influence the direction or rate of movements in data over time, often used in forecasting future financial or economic activity.