Assume That $x$ Is a Binomial Random Variable With $\mathrm { n } = 400$

question 195

Multiple Choice

Assume that $x$ is a binomial random variable with $\mathrm { n } = 400$ and $\mathrm { p } = 0.30$ . Use a normal approximation to find $P ( x \geq 100 )$ .

• A) 0.9875
• B) 0.5948
• C) 0.9834
• D) 0.4875

---

Definitions:

Variable Costs

Costs that change in proportion to the level of activity or volume of goods produced in a business.

Unit Contribution Margin

The dollars available from each unit of sales to cover fixed costs and provide operating profits.

Fixed Costs

Expenses that do not change with the level of production or sales over the short term, such as rent and salaries.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit of a product.