Given That a Random Variable X, the Number of Successes

question 75

Multiple Choice

Given that a random variable x, the number of successes, follows a Poisson process, then the probability ofsuccess for any two intervals of the same size

• A) is the same.
• B) are complementary.
• C) are reciprocals.
• D) none of these

---

Definitions:

Inflation Rate

The speed at which the average price level of goods and services increases, leading to a decrease in buying power.

Long-Run Aggregate Supply

The total output of goods and services that an economy can produce when both labor and capital are fully employed, at full capacity.

Long-Run Phillips Curve

A macroeconomic concept that suggests there is no long-term trade-off between inflation and unemployment, implying that in the long run, the economy reaches a natural rate of unemployment regardless of inflation.

Natural Rate

The natural rate often refers to the natural rate of unemployment, which is the level of unemployment consistent with a stable inflation rate over time.