Classify the Following Random Variable According to Whether It Is

question 94

Multiple Choice

Classify the following random variable according to whether it is discrete or continuous.
-the number of emails received on any given day

• A) discrete
• B) continuous

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Definitions:

Maximizing Utility

The process of allocating resources to obtain the highest possible satisfaction or utility.

Money Income

Refers to the total income received in the form of money, including wages, salaries, and other earnings.

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming an additional unit of a good or service.

Purchases

The act of buying goods or services.