Assuming That All Conditions Are Met to Approximate a Binomial $P ( 12 \leq x \leq 15 )$

question 72

Multiple Choice

Assuming that all conditions are met to approximate a binomial probability distribution with the standard normal distribution, then to compute $P ( 12 \leq x \leq 15 )$ from the binomial distribution we must compute as the normal approximation.

• A) \(\mathrm { P } ( 11.5 < \mathrm { x } < 15.5 )\)
• B) \(\mathrm { P } ( 12.5 < \mathrm { x } < 14.5 )\)
• C) \(\mathrm { P } ( \mathrm { x } > 15.5 ) \text { and } \mathrm { P } ( \mathrm { x } < 11.5 )\)
• D) \(\mathrm { P } ( \mathrm { x } > 12.5 ) \text { and } \mathrm { P } ( \mathrm { x } < 14.5 )\)

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Definitions:

Sunk Cost

An expense that has been paid and cannot be retrieved.

Expected Cost

An estimate of the cost for a product, project, or operation that is anticipated under normal conditions.

Sell

The act of giving or handing over something in exchange for money.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs and generating profit.