Which of the Following Is a Requirement for Use of the Hypergeometric

question 79

Multiple Choice

Which of the following is a requirement for use of the hypergeometric distribution?

• A) Only 2 possible outcomes.
• B) Trials are independent.
• C) Probability of a success is greater than 1.0.
• D) Only 2 possible outcomes and trial are independent.

---

Definitions:

Inelastic

Refers to a market for a product or service that is price insensitive; that is, relatively small changes in price will not generate large changes in the quantity demanded.

Products

Items or services offered by a business to customers, which can include physical goods, services, and digital products.

Perceptions of Value

How consumers view the worth of a product or service based on its perceived benefits versus the cost, which influences their purchasing decisions.

Effective Pricing

The strategy of setting a product's price based on the value perceived by the customer, market demand, and competition, aiming to maximize both profit and customer satisfaction.