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How Does a Multinomial Distribution Differ from a Binomial Distribution

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How does a multinomial distribution differ from a binomial distribution?


Definitions:

Consequential Damages

A type of damages that arise not directly from a wrongful act but from the results of the act, which may not have been foreseeable.

Market Price

The current price at which an asset or service can be bought or sold in the open market.

C.O.D.

C.O.D. stands for Cash on Delivery; it is a transaction where payment is collected at the time of delivery rather than in advance.

Misrepresentation

The act of providing false, misleading, or incorrect information, typically with the intention to deceive.

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