The Poisson Random Variable Is

question 124

Multiple Choice

The Poisson random variable is:

• A) a continuous random variable with infinitely many possible values
• B) a discrete random variable with infinitely many possible values
• C) a continuous random variable with finite number of possible values
• D) a discrete random variable with finite number of possible values
• E) all of these

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Definitions:

Tariff

A tax imposed on imported goods and services to regulate trade by making imports more expensive than local products.

Total Revenue

The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.

Infant Industry

An industry in its early stages of development, which may be protected by the government from international competition temporarily until it becomes competitive.

Protective Tariffs

Import taxes imposed by a country on foreign goods to protect domestic industries from competition by making imported goods more expensive.