The Random Variable X Represents the Number of Boys in a Family

question 16

Multiple Choice

The random variable x represents the number of boys in a family of three children. Assuming that boys and girls are equally likely, find the mean and standard deviation for the random variable x.

• A)mean: 1.50; standard deviation: 0.87
• B)mean: 2.25; standard deviation: 0.87
• C)mean: 1.50; standard deviation: 0.76
• D)mean: 2.25; standard deviation: 0.76

Understand the importance of critical thinking in evaluating information.

Distinguish between individualistic and collectivist cultures and their impact on behavior.

Understand and calculate the total quantity of materials needed to produce a specified number of product units.

Differentiate between the quantities of different types of materials required in production.

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Definitions:

Market Area

A geographical region or demographic group in which a company's products or services are marketed and sold.

Central Point of Accountability

The specific position or individual within an organization assigned the responsibility for overseeing the successful achievement of certain objectives or tasks.

Functional Structure

An organizational design where the company is divided into departments based on specialized functions, such as marketing, finance, or operations.

Economies of Scale

The cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.