For the Binomial Distribution with the Given Values for N

question 105

Multiple Choice

For the binomial distribution with the given values for n and p, state whether or not it is suitable to use the normal
distribution as an approximation.
-n = 16 and p = 0.2

• A) Normal approximation is not suitable.
• B) Normal approximation is suitable.

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Definitions:

Growth

An increase in some quantity over time, such as revenue, size, or population.

Product Life Cycle

The phases a product experiences, starting from its launch, progressing through growth and maturity, before reaching its decline in the marketplace.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products. It typically includes product, price, place, and promotion.

Growth

The process of increasing in size, value, or importance, often used in reference to economic, business, or personal development.