There Are Two Types of Random Variables,they Are

question 82

Multiple Choice

There are two types of random variables,they are

• A)discrete and continuous.
• B)exhaustive and mutually exclusive.
• C)complementary and cumulative.
• D)real and unreal.

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Definitions:

Low-Quality

Referring to products or services that fail to meet expected standards of performance, reliability, or durability.

Economic Profits

Earnings that exceed the opportunity costs of all resources used by a firm, often considered as profits above normal profits.

Free Entry

A market condition where firms can freely enter or exit the industry without facing significant barriers.

Competitive Markets

Competitive markets are characterized by many buyers and sellers, allowing for free and open competition which dictates prices and quality of goods and services.