Classify the Following Random Variable According to Whether It Is

question 106

Multiple Choice

Classify the following random variable according to whether it is discrete or continuous
-The peak shopping time at home improvement store is between 8:00am-11:00 am on Saturday mornings. Management at the home improvement store randomly selected 190 customers last Saturday morning and decided to observe their shopping habits. They recorded the number of items that each of the customers purchased as well as the total time the customers spent in the store. Identify the types of variables recorded by the home improvement store.

• A) number of items - discrete; total time - continuous
• B) number of items - continuous; total time - continuous
• C) number of items - continuous; total time - discrete
• D) number of items - discrete; total time - discrete

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Definitions:

Total Profit Curve

A graphical representation that shows how a firm's profit varies with different levels of output.

Competitive Firm

A business that operates in a market where it must set prices competitively, influenced by supply and demand, without having significant market power.

Total Economic

An encompassing term that may refer to the complete economic activities or output of a specific region or sector.

Total Revenue

Total revenue is the total amount of money received by a company for goods sold or services provided during a specific period.