A Coin Is Tossed 14 Times

question 15

Multiple Choice

A coin is tossed 14 times. Let X be the number of heads obtained. Is this a binomial distribution, and if so, what is the number of trials?

• A) Not binomial
• B) Binomial, n = 14
• C) Binomial, n = 2

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Definitions:

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, calculated on a monthly basis.

Retirement Account

A financial account that is specifically designed to save funds for retirement, offering tax benefits for money invested and saved.

Pension Plan

A type of retirement plan where an employer makes contributions to a pool of funds set aside for an employee's future benefit.

Multiplier

A factor by which an economic variable is multiplied to estimate its impact on other variables.