In a Binomial Experiment, the Probability of Success Is

question 48

Multiple Choice

In a binomial experiment, the probability of success is .06. What is the probability of two successes in seven trials?

• A) .0036
• B) .06
• C) .0554
• D) .28

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Definitions:

Inventory Turnover

A measure showing the frequency at which a company's inventory is sold and replenished within a given timeframe.

Days in Inventory

A financial metric that calculates the average number of days a company holds inventory before it is sold.

Consigned Goods

Items that are given to a third party to sell but remain the property of the seller until sold.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and losses from its total revenues, indicating its profitability.