The Poisson Random Variable Is A

question 269

Multiple Choice

The Poisson random variable is a:

• A)discrete random variable with infinitely many possible values.
• B)discrete random variable with finite number of possible values.
• C)continuous random variable with infinitely many possible values.
• D)continuous random variable with finite number of possible values.

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Definitions:

Allocative Inefficiency

A situation where resources are not optimally allocated according to consumer preferences, often leading to overproduction or underproduction of certain goods or services.

Monopolist

An entity that has exclusive control over the supply of a particular good or service, setting prices without facing competition.

Opportunity Cost

The cost of what you have to give up in order to choose something else.

Output

The sum of all goods or services created by an enterprise, industry, or the economy over a certain period.