Students in a Basic Statistics Class Are Allowed to Take

question 89

Multiple Choice

Students in a basic statistics class are allowed to take as much time as needed on their final exam.The exact amount of time it takes each student to finish the final exam is an example of a _________.

• A)discrete random variable
• B)continuous random variable

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Definitions:

Marginal Cost

The supplementary cost resulting from manufacturing an extra unit of a good or service.

Typeset

The arrangement and composition of text in preparation for printing and publication.

Inverse Demand Function

A mathematical expression that describes the relationship between the price of a good and the quantity demanded, showing how price changes as a function of demand.

Unit Tax

A tax that is imposed on a per unit basis, meaning that a specific amount is taxed for each unit of a good or service sold.