The Variance Var(x) for the Binomial Distribution Is Given by Equation

question 41

Multiple Choice

The variance Var(x) for the binomial distribution is given by equation

• A) np(n - 1).
• B) np(1 - np).
• C) n(1 - p).
• D) np(1 - p).

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Definitions:

Profit-Maximizing Level

The point at which a firm achieves the highest profit possible, where marginal cost equals marginal revenue.

Marginal Cost

The growth in complete costs associated with creating another unit of a good or service.

Total Revenue

The total amount of money received by a company from the sale of its goods or services.

Market Price

The current price at which a good or service can be bought or sold in a marketplace, determined by supply and demand.