What Kinds of Probabilities Does the Hypergeometric Probability Distribution Provide

question 18

Multiple Choice

What kinds of probabilities does the hypergeometric probability distribution provide?

• A) It provides probabilities associated with possible values of a binomial random variable in situations in which sampling is done without replacement.
• B) It provides probabilities associated with possible values of a binomial random variable in situations in which the probability of success changes from one trial to the next.
• C) both a and b
• D) neither a or b

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Definitions:

Target Profit

Target profit is the amount of net income a company aims to achieve for a specific period as part of its financial and operational goals.

Break-Even Sales

The amount of revenue from sales needed to cover all fixed and variable expenses, at which point a business neither profits nor loses money.

Contribution Margin Ratio

A financial metric indicating the portion of sales revenue that is not consumed by variable costs, represented as a percentage of total sales.

Monthly Fixed Expense

Regular, unchanging expenses that occur on a monthly basis, such as rent or salaries, regardless of business activity levels.