When N Is Reasonably Large and P Isn't Too Close

question 31

Multiple Choice

When n is reasonably large and p isn't too close to 0 or 1, the binomial distribution can be well approximated by which of the following distributions?

• A) uniform distribution
• B) normal distribution
• C) triangular distribution
• D) none of these choices

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Definitions:

Inventory Turnover

A measure of how quickly a company sells and replaces its inventory over a certain period, indicating the efficiency of inventory management.

Net Income

Net income represents the total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue, indicating the actual profit made during a specified period.

Total Assets

The sum of all resources owned by a company, valued in monetary terms, which includes tangible and intangible items.

Owner's Equity

The amount of assets owned by a business's owner after all liabilities have been deducted.