If N = 10 And $\pi = 0.70$ , Then the Mean of the Binomial Distribution Is
A)0

question 1

Multiple Choice

If n = 10 and $\pi = 0.70$ , then the mean of the binomial distribution is

• A)0.07
• B)1.45.
• C)7.00
• D)14.29

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Definitions:

Rational Choice

A theory in economics and sociology that suggests individuals choose the option that provides the highest level of satisfaction, assuming the availability of information and a clear preference set.

Opportunity Cost

The effect of spurning potential profits from various options by selecting a particular one.

Societal Choices

Decisions made by a society as a whole about the allocation of resources and priorities among different uses.

Opportunity Cost

The worth of the best alternative given up as a consequence of a decision made.