Classify the Following Random Variable According to Whether It Is

question 98

Multiple Choice

Classify the following random variable according to whether it is discrete or continuous. The speed of a car on a Los Angeles freeway during rush hour traffic

• A)discrete
• B)continuous

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Definitions:

Price Changes

Variations in the cost of goods and services over time in the market.

Price Elasticity

A measure of the sensitivity of demand for a product relative to changes in its price.

Minus Sign

A symbol (-) used to indicate subtraction or to represent a negative value.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price point, at a specific time.