I a Random Variable May Be Either Discrete or Continuous

question 111

Multiple Choice

i. A random variable may be either discrete or continuous.
ii. If Unique Buying Services has 100 employees, there might be 0, 1, 2, 3 up to 100 employees
Absent on Monday. In this case, the day of the week is the random variable.
iii. If we measure the weight of an eggnog carton, the variable is referred to as being a discrete
Random variable.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

---

Definitions:

Per Unit

A term referring to the cost or price of a single item or service when discussing bulk production or sales.

Variable Costing

An accounting method that includes only variable production costs (costs that change with the level of production) in product costs.

Absorption Costing

A financial accounting technique that integrates all production expenses, including direct materials, direct labor, along with all variable and fixed manufacturing overhead costs, into the product's cost.

Variable Production Costs

Costs that vary directly with the level of production output, such as raw materials and labor expenses.