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On a multiple-choice exam for which each question has four possible answers, the probability of guessing the correct answer is p = 1/4.What is the mean of the binomial distribution for the number of correct guesses for a series of 100 questions?
Mean Salary
The average income earned by employees in a specific group, calculated by dividing the total salary by the number of individuals.
Net Weight
The weight of a product without any packaging or container, essentially the weight of the goods alone.
Standard Deviation
A measure of the amount of variation or dispersion of a set of values, indicating how much the individual data points differ from the mean of the data set.
Significance Level
The threshold used in statistics to determine the probability of rejecting a null hypothesis when it is true.
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