Approximate Binomial Probabilities Using the Normal Distribution

question 18

Essay

Approximate Binomial Probabilities Using the Normal Distribution
-According to government data, the probability than an adult never had the flu is 11%. You randomly select 53 adults and ask if he or she ever had the flu. 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.

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Definitions:

Unreliable

Lacking consistency, dependability, or accuracy in information, data, or result.

Cumulative Weighted Average Expenditures

The total cost of investments or expenditures over a period, weighted by the time each amount was invested or incurred, used in capital budgeting or to calculate interest during construction.

Useful Life

The estimated duration a fixed asset is expected to be economically useful to an organization.

Capitalized

Refers to recording an expense or cost as an asset on the balance sheet, rather than as an expense on the income statement, to spread out the expense over its useful life.