Determine Whether the Given Procedure Results in a Binomial Distribution

question 54

Multiple Choice

Determine whether the given procedure results in a binomial distribution. If not, state the reason why. Rolling a single die 53 times, keeping track of the "fives" rolled.

• A) Not binomial: there are more than two outcomes for each trial.
• B) Not binomial: there are too many trials.
• C) The procedure results in a binomial distribution.
• D) Not binomial: the trials are not independent.

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Definitions:

Economic Profits

The variance between a corporation's total earnings and all its explicit and implicit expenditures.

Zero-profit Equilibrium

A situation in a perfectly competitive market where firms just cover their costs, leaving no surplus for economic profit.

Consumer Preference

The subjective tastes and preferences that influence buyers' choices of goods and services.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market price.