Which Probability Model Is Most Nearly Appropriate to Describe the Number

question 58

Multiple Choice

Which probability model is most nearly appropriate to describe the number of burned-out fluorescent tubes in a classroom with 12 fluorescent tubes,assuming a constant probability of a burned-out tube?

• A)Binomial
• B)Poisson
• C)Hypergeometric
• D)Uniform

---

Definitions:

Competitive Markets

Markets characterized by numerous buyers and sellers, enabling competition that regulates prices and quality.

Oligopolistic Firms

Companies that operate in a market characterized by a small number of large sellers who have significant control over market prices.

Successful Collusion

A scenario where firms in a market coordinate their actions, such as setting prices or output levels, to achieve collective benefits at the expense of fair competition and consumers.

Demand Curves

Graphical representations showing the relationship between the price of a product and the quantity of the product demanded.