A Probability Distribution Showing the Probability of X Successes in N

question 66

Multiple Choice

A probability distribution showing the probability of x successes in n trials,where the probability of success does not change from trial to trial,is termed a

• A)uniform probability distribution
• B)binomial probability distribution
• C)Poisson probability distribution
• D)normal probability distribution

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a certain price over a specified period.

Excess Supply

A situation in which the quantity of a good or service supplied is more than the quantity demanded.

Quantity Supplied

The amount of a commodity that producers are willing to sell at a given price over a specified period.

Market Equilibrium

A state in which market supply and demand are balanced at a certain price level, leading to economic stability in which the quantity supplied equals the quantity demanded.