A Market Research Team Compiled the Following Discrete Probability Distribution

question 39

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:

Average Cost

A method of inventory costing that determines the cost of goods sold and ending inventory based on the weighted average cost of all purchases.

Gross Profit Method

A technique used to estimate the amount of ending inventory using the gross profit margin.

Net Realizable Value

The expected selling price in the ordinary course of business minus the estimated costs of completion and the costs necessary to make the sale.

Normal Selling Price

The standard amount charged to customers for a good or service under normal market conditions.