E(X) = npq is for which distribution?
In binomial distribution, probability of success is given by p and that of failure is given by q and the event is done n times. The mean of this distribution is given by npq.
Law of diminishing returns only applies to cases where
The credit manager at a Departmental store collects data on 100 of her customers. Of the 60 men, 40 have credit cards (C). Of the 40 women, 30 have credit cards (C). Ten of the men with credit cards have balances due (B), while 15 of the women have balances (B). The credit manager wants to determine the probability that a customer selected at random is a man with a balance.
Identify the order of chronological development of the theory of demand.
a. Marshall’s theory of demand
b. Indifference curves
c. Revealed preference theory
d. Weak Preference ordering theory of demand.
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