In a Binomial Distribution, P, the Probability of Getting a Successful

question 79

True/False

In a binomial distribution, p, the probability of getting a successful outcome on any single trial, increases proportionately with every success.

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Definitions:

Accord and Satisfaction

Accord and Satisfaction is a legal settlement where a debtor agrees to pay a lesser amount than originally owed, and the creditor agrees to accept this as full settlement of the debt.

Specific Performance

A legal remedy where the court orders a party to fulfill their obligations under a contract, as opposed to awarding damages.

Waiver

A waiver is the voluntary relinquishment or surrender of some known right or privilege.

Supervening Illegality

A situation where a law change after an agreement is made renders the performance of the contract illegal.