In a Binomial Distribution

question 37

Multiple Choice

In a binomial distribution

• A) the random variable X is continuous.
• B) the probability of event of interest π is stable from trial to trial.
• C) the number of trials n must be at least 30.
• D) the results of one trial are dependent on the results of the other trials.

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost compared to another entity, enhancing the efficiency of global resource allocation.

Production Possibilities

The various combinations of goods and services that an economy can produce given its technological capabilities and available resources.

Italia

The Italian name for Italy, a European country known for its rich history, culture, and significant contributions to art, cuisine, and fashion.

Comparative Advantage

The ability of a country, individual, or company to produce a specific good or service at a lower opportunity cost than others.