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Less Cash in Wallets
Part I Multiple Choice Questions
What reason does the video provide for why Americans have increasingly lighter wallets?
They are choosing to carry less cash.
New bills are lighter than they used to be.
They are carrying fewer credit cards.
They have less expendable income.
A random variable is a variable with a numeric value that varies for different members of the population of interest. A discrete random variable takes on a countable number of values, such as the number
of children a person has. Often discrete variables are counts, such that it's possible to have a very large number of different values (e.g., from zero to infinity), but there are no possible values between
two adjacent values. That is, it is possible to have 2 children or 3 children, but not any values in between 2 and 3.
A continuous random variable, such a person's height, can theoretically take on an infinite number of values. In particular, between any two values, there exists another. That is, you can be 73 cm, or
74 cm, or 73.4 cm. Even though the value may be recorded rounded to the nearest centimeter, any value between 73 and 74 is theoretically possible.
What type of random variable is the weight of a person's wallet?
O discrete
O continuous
What type of random variable is the number of bills in a person's wallet?
O continuous
O discrete