Which Is True for a Binomial Distribution

question 49

Multiple Choice

Which is true for a binomial distribution?

• A) There are three or more possible outcomes.
• B) Probability of success remains the same from trial to trial.
• C) Value of p is equal to 1.50.
• D) It approximates the Poisson distribution.

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Definitions:

Gasoline Prices

The cost per unit volume of gasoline, which fluctuates based on factors like crude oil prices, taxes, demand, and supply.

Distribute Products

Distributing products involves the process of making goods available to consumers through various channels, including retail locations, online platforms, and distribution centers, ensuring accessibility to the target market.

Diseconomies of Scale

Occur when a company or business grows so large that the costs per unit increase, leading to decreased efficiency.

Economies of Scale

The cost advantage that arises with increased output of a product due to spreading fixed costs over more units of production.