Twenty Five Items Are Sampled

question 35

Multiple Choice

Twenty five items are sampled.Each of these has the same probability of being defective.The probability that exactly 2 of the 25 are defective could best be found by ___.

• A)using the normal distribution
• B)using the binomial distribution
• C)using the Poisson distribution
• D)using the exponential distribution
• E)using the uniform distribution

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Definitions:

Number of Firms

The total count of businesses operating within a particular market or industry.

Price Leadership

A strategy where the dominant firm in a market sets the price of goods or services, and other competitors follow suit, often seen in oligopolistic markets.

Industry Agreement

A collective consensus or a formal contract among companies within the same industry, often regarding standards, pricing, or other competitive practices.

Nonprice Competition

A marketing strategy in which a company tries to differentiate its product or service from competing products on the basis of attributes other than price.