Compute and Interpret Probabilities Using the Classical Method
-A Single $\{ ( 1,1 ) , ( 1,2 ) , ( 1,3 ) , ( 1,4 ) , ( 1,5 ) , ( 1,6 ) , ( 2,1 )$

question 130

Multiple Choice

Compute and Interpret Probabilities Using the Classical Method
-A single die is rolled twice. The set of 36 equally likely outcomes is $\{ ( 1,1 ) , ( 1,2 ) , ( 1,3 ) , ( 1,4 ) , ( 1,5 ) , ( 1,6 ) , ( 2,1 )$ , $( 2,2 ) , ( 2,3 ) , ( 2,4 ) , ( 2,5 ) , ( 2,6 ) , ( 3,1 ) , ( 3,2 ) , ( 3,3 ) , ( 3,4 ) , ( 3,5 ) , ( 3,6 ) , ( 4,1 ) , ( 4,2 ) , ( 4,3 ) , ( 4,4 ) , ( 4,5 ) , ( 4,6 ) , ( 5,1 )$ , $( 5,2 ) , ( 5,3 ) , ( 5,4 ) , ( 5,5 ) , ( 5,6 ) , ( 6,1 ) , ( 6,2 ) , ( 6,3 ) , ( 6,4 ) , ( 6,5 ) , ( 6,6 ) \}$ . Find the probability of getting two numbers whose sum is greater than 9 and less than $13 .$

• A) \(\frac { 1 } { 6 }\)
• B) 0
• C) \(\frac { 5 } { 36 }\)
• D) \(\frac { 7 } { 36 }\)

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Definitions:

Perfect Competitor

A firm in a market structure where it takes the prevailing market price as given and decides its output level without being able to influence the market price.

Long Run

A period in economics during which all factors of production and costs are variable, and firms can enter or exit the industry.

Monopolistic Competitor

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power in setting prices.

Demand

The desire and ability of consumers to purchase goods and services at given prices.