A Market Research Team Compiled the Following Discrete Probability Distribution

question 38

Multiple Choice

A market research team compiled the following discrete probability distribution.In this distribution x represents the number of automobiles owned by a family. Which of the following statements is true?

• A)This distribution is skewed to the right.
• B)This is a binomial distribution.
• C)This is a normal distribution.
• D)This distribution is skewed to the left.
• E)This distribution is bimodal.

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Definitions:

Comparative Advantage

Being able to manufacture a good or provide a service with a smaller opportunity cost than that of competing individuals, companies, or nations.

Absolute Advantage

The capacity of an entity to create a product or offer a service more effectively than its rivals, utilizing fewer resources.

Absolute Advantage

A country's ability to produce a certain good more efficiently than another country can.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, enabling trade and increased efficiency.