Which of the Following Probability Distributions Are Associated with Discrete

question 55

Multiple Choice

Which of the following probability distributions are associated with discrete outcomes?

• A) Gamma
• B) Custom
• C) Normal
• D) Exponential

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Definitions:

Labor Demand Curve

A graphical representation showing the relationship between the wages paid to workers and the number of workers that employers are willing to hire.

Marginal Product

The additional output that is produced by using one more unit of a variable input.

Average Product

The output produced per unit of input, calculated by dividing total product by the number of units of input, often used to measure productivity.

Total Cost

The entire financial burden of producing a specific quantity of a good or service, including both fixed and variable costs.