Refer to the Graph Above

question 47

Multiple Choice

Refer to the graph above. If demand decreases, then total revenues will

• A)decrease.
• B)increase.
• C)stay the same.
• D)cause supply to decrease too.

---

Definitions:

Binomial Distribution

A statistical distribution representing the number of successes in a fixed number of independent trials, with each trial having the same probability of success.

P(X > 1)

The probability that a random variable X takes on a value greater than 1.

Speed Limit

A legally established maximum speed at which vehicles may travel on a particular roadway.

P(3 ≤ X ≤ 6)

Represents the probability that the random variable X takes on a value between 3 and 6, inclusive.