For a Binomial Distribution with P = ¼ and a Mean

question 59

True/False

For a binomial distribution with p = ¼ and a mean of $\mu$ = 12, the standard deviation is $\sigma$ = 9.

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Definitions:

Cash Over And Short

An account that records the discrepancies between the actual cash received and the expected amount.

Credit Balance

An accounting term that signifies a positive balance in a liability, revenue, or equity account, which increases on the credit side and decreases on the debit side.

Petty Cash Fund

A nominal sum of cash reserved for quick payments of assorted trivial expenses.

Replenishing

Refers to the process of adding stock or supplies to bring quantities back up to predetermined levels.