For the Chocolate Example in the Book, Examples of New

question 2

Multiple Choice

For the chocolate example in the book, examples of new market opportunities for the company included:

• A) Selling custom printed M&Ms for different types of occasions
• B) Great tasting energy bars
• C) Healthy, nutritionally tuned snacks for the elderly
• D) All of the above

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Definitions:

Bivariate Distributions

Statistical distributions involving two random variables and their joint probability.

P(x,y)

Represents the joint probability of two events, X and Y, occurring together.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events happen with a known constant mean rate and independently of the time since the last event.

Standard Deviation

An assessment of the range or distribution spread within a set of numbers.