As a General Rule,one Can Use the Normal Distribution to Approximate

question 167

True/False

As a general rule,one can use the normal distribution to approximate a binomial distribution whenever the sample size is at least 15.

Recognize the evolution of family dynamics and its impact on child development.

Understand the concepts and definitions related to shipping terms and contracts.

Distinguish between different shipping terms such as FOB and FAS.

Identify who bears the risk of loss under different contract types.

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Definitions:

Accounting Profit

The total revenue of a firm less its explicit costs; the profit (or net income) that appears on accounting statements and that is reported to the government for tax purposes.

Diseconomies of Scale

A situation in which a company or business grows so large that the costs per unit increase, leading to decreased efficiency.

Large-Scale Business

A business that operates on a large scale, often involving extensive operations, significant capital, numerous employees, and a wide geographical reach.

Law of Diminishing Returns

A principle stating that if one factor of production is increased while others remain constant, the overall returns will eventually decrease after a certain point.