Given That X Is a Hypergeometric Random Variable with N

question 28

Multiple Choice

Given that x is a hypergeometric random variable with N = 8, n = 4, and r = 3, compute the variance of x.

• A).732
• B).469
• C).700
• D).538

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Definitions:

Households

Entities consisting of one person or a group of people who share living accommodations and make joint or separate decisions in consumption and investment.

Normal Good

A Normal Good is a type of good for which demand increases when the income of the consumer increases and falls when the income decreases, assuming the price remains constant.

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, and land.

Inputs

The resources (such as labor, materials, and capital) used in the production process to create goods or services.