Find the Mean of the Binomial Random Variable

question 47

Multiple Choice

Find the mean of the binomial random variable. Round to two decimal places when necessary.
-A die is rolled 4 times and the number of times that two shows on the upper face is counted. If this experiment is repeated many times, find the mean for the random variable X, the number of twos.

• A)3.33
• B)0.67
• C)1.33
• D)1

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Definitions:

BATNAs

Best Alternative To a Negotiated Agreement, referring to the best option available to a negotiating party if the current negotiations fail.

Added Value Negotiating

A negotiation strategy focusing on creating benefits and value for all parties involved, rather than merely haggling over existing value.

Alternative Deal Packages

This involves creating various packages of terms and options in negotiations or transactions to offer flexibility and cater to different preferences or priorities.

BATNA

Best Alternative To a Negotiated Agreement (BATNA) is the course of action that will be taken by a party engaged in negotiation if the current negotiations fail and no agreement can be reached.