Using the Following Probability Distribution Table of the Random Variable

question 4

Multiple Choice

Using the following probability distribution table of the random variable x,what is the probability of x = 3?

• A) 3/15
• B) 5/15
• C) 1/15
• D) 2/15

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Definitions:

Marginal Cost

The cost involved in generating an extra unit of a product or service.

Market Economy

A type of economic system where decisions regarding investment, production, and distribution are based on supply and demand, with minimal government intervention.

Efficient

Optimally using resources in a manner that maximizes the production of goods and services without wasting them.

Resources

The inputs used in the production of goods and services, including labor, capital, land, and entrepreneurship.