The Normal Approximation for Binomial Distribution Can Be Used When

question 65

True/False

The normal approximation for binomial distribution can be used when n=10 and p=1/5.

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Definitions:

Installment Note Payable

A debt instrument that requires a series of payments over a specified period until the full amount is paid off.

Principal Amount

The initial amount of money borrowed or invested, excluding any interest or dividends.

Equal Annual Payments

Regular payments of the same amount made over a specified period of time, often used in loans and annuities.

Installment Note

A debt instrument that requires a series of payments over time, typically including both principal and interest components.