Which of the Following Random Variables Is Not Discrete

question 46

Multiple Choice

Which of the following random variables is not discrete?

• A)the number of courses in which a college student is enrolled
• B)the number of attempts needed in order to successfully complete a task
• C)the distance traveled by a motorcycle on one gallon of gas
• D)the number in a group of 20 people who have college degrees
• E)the number of words on an 8.5 x 11 inch sheet of paper

Apply the expected utility theory to analyze choices between certain and uncertain outcomes.

Interpret and graph utility functions to understand preferences over risky outcomes.

Evaluate investment decisions using the von Neumann-Morgenstern utility function.

Analyze the role of insurance in decision-making under risk.

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Definitions:

Materials Output

The quantity of materials produced or used in the production process within a specific period.

Equivalent Units

A concept used in cost accounting to express the amount of materials, labor, or overhead costs in terms of fully completed units.

Physical Units

A measure of quantity, such as items or pieces, used to quantify the inventory, output, or production level of a business.

FIFO Method

An inventory valuation method where the first items acquired are the first ones sold or used, standing for First In, First Out.