Which of the Following Is Not a Characteristic of a Binomial

question 54

Short Answer

Which of the following is not a characteristic of a binomial experiment? $\begin{array}{|l|l|}\hline A&\text {There is a sequence of identical trials. }\\\hline B&\text {Each trial results in two or more outcomes. }\\\hline C&\text {The trials are independent of each other. }\\\hline D&\text { Frobability of success \( p \) is the same from one trial to another.}\\\hline \end{array}$

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Definitions:

Price Change

Price change refers to the variation in the cost of goods and services over time.

Equilibrium Price

The price in a competitive market at which the quantity demanded and the quantity supplied are equal, there is neither a shortage nor a surplus, and there is no tendency for price to rise or fall.

Relatively Inelastic

Describes a situation where the demand for a good or service changes by a smaller percentage than changes in its price, indicating consumers' less sensitive response to price changes.

Supply

The total amount of a product or service available for purchase at any given price or time.