A Binomial Distribution with N Number of Trials, and Probability

question 48

True/False

A binomial distribution with n number of trials, and probability of success p can be approximated well by a normal distribution with mean np and variance if np > 5 and n(1-p) > 5.

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Definitions:

Journal Entry

A record in an accounting journal that captures the financial transactions of a business, showing debits and credits for each transaction.

Petty Cash Account

A modest sum of money maintained readily available for small, urgent costs.

Mail and Postage

The service and cost associated with sending documents and parcels through a postal system.

Missing Funds

Refers to money or assets that are unaccounted for due to error, theft, or fraud.