The Expected Value, E(X), of a Binomial Probability Distribution Is $\begin{array}{|l|l|}\hline A&n+p \\\hline B&n p(1-p)\\\hline C&n p\\\hline D&n+p-1\\\hline \end{array}$

question 8

Short Answer

The expected value, E(X), of a binomial probability distribution is: $\begin{array}{|l|l|}\hline A&n+p \\\hline B&n p(1-p)\\\hline C&n p\\\hline D&n+p-1\\\hline \end{array}$

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Definitions:

Product Innovation

The development and sale of a new or improved product (or service).

Process Innovation

A business strategy involving the introduction of new or significantly improved production or delivery methods.

Firms' Revenues

The total income generated by businesses from selling their goods or services before any expenses are deducted.

Personal Savings

The portion of an individual’s income that is not spent on consumption and is set aside for future use, typically in a savings account or investment.