Approximate Binomial Probabilities Using the Normal Distribution

question 4

Essay

Approximate Binomial Probabilities Using the Normal Distribution
-A recent survey found that 72% of all adults over 50 own cell phones. You randomly select 45 adults over 50, and ask if he or she owns a cell phone. Decide whether you can use the normal distribution to approximate the binomial distribution. If so, find the mean and standard deviation, If not, explain why.

Master the calculation of current and quick (acid-test) ratios to assess a company's short-term liquidity.

Learn how to compute and interpret the payout ratio and its significance in dividend policy analyses.

Grasp the importance of the accounts receivable turnover ratio in evaluating a company's efficiency in managing receivables.

Understand the concept of leverage (trading on equity) and its impact on shareholder returns.

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Definitions:

Unpleasant Stimulus

A negative or disagreeable input or event that affects an individual's mental or physical state.

Pleasant Stimulus

A stimulus that is enjoyable or pleasing to the senses.

Variable-interval Schedule

A reinforcement schedule where a response is rewarded after an unpredictable amount of time has passed.

Electronic Mail

A method of exchanging messages digitally between people using electronic devices.