$\text { Compute } \left( \begin{array} { l } 6 \\2\end{array} \right) ( .3 ) ^ { 2 } ( .7 ) ^ { 6 - 2 }$

question 145

Essay

$\text { Compute } \left( \begin{array} { l } 6 \\2\end{array} \right) ( .3 ) ^ { 2 } ( .7 ) ^ { 6 - 2 }$

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Definitions:

Customer Databases

Collections of information about customers, including their contact details, buying habits, and preferences, which companies use to manage customer relationships effectively.

Marginal Costs

The extra expense associated with the production of an additional unit of a product or service.

Average Cost

The total cost of production divided by the quantity of output produced, representing the per unit cost of production.

Signaling Mechanism

A method or action taken to convey information or intentions between parties, often used in economics and biology to indicate quality or status.