Suppose That Past History Shows That 6% of College Students

question 124

Multiple Choice

Suppose that past history shows that 6% of college students prefer Brand A Cola.A sample of 10,000 students is to be selected.Which of the following distributions would you use to compute the probability that at least half of them will prefer Brand A cola?

• A)Hypergeometric distribution.
• B)Poisson distribution.
• C)Binomial distribution.
• D)Uniform distribution.

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Definitions:

Marginal Utility

The supplementary enjoyment or value obtained by consuming an extra unit of a good or service.

Total Utility

The overall satisfaction or happiness a consumer derives from consuming a certain quantity of goods and services.

Marginal Utility

The extra benefit or utility gained from acquiring or consuming an additional unit of a product or service.

Utility Per Dollar

The amount of satisfaction or usefulness gained per unit of currency spent, used to measure consumer value.