For Binomial Data with P = $\sigma$ For the Normal Approximation?
A)12
B)9
C)3
D)1

question 2

Multiple Choice

For binomial data with p = .50 and n = 36, what is the value of $\sigma$ for the normal approximation?

• A)12
• B)9
• C)3
• D)1

Analyze how changes in budget constraints affect consumer choices.

Apply the concept of marginal utility and its role in consumption decisions.

Explore the implications of different consumption preferences and constraints on utility maximization.

Understand the relationship between the prices of goods, marginal utility, and optimal consumption bundles.

---

Definitions:

Slotting Principles

Guidelines used in warehouse management for determining the most efficient placement of goods to optimize retrieval and storage.

Inventory Positioning

The strategic placement of inventory within the supply chain to meet customer demand while minimizing costs and maximizing efficiency.

Centralized Inventory

A management approach where all stock is kept in a single location, facilitating easier inventory control and management.

Decentralized Inventory

An inventory management strategy where stock is kept in multiple locations to reduce delivery times and increase service levels.