Find the Mean $\mu$ , for the Binomial Distribution Which Has the Stated Values

question 14

Multiple Choice

Find the mean, $\mu$ , for the binomial distribution which has the stated values of $n$ and $p$ . Round answer to the nearest tenth. $n = 676 ; p = 0.7$

• A) \(\mu = 474.5\)
• B) \(\mu = 473.2\)
• C) \(\mu = 471.7\)
• D) \(\mu = 474.9\)

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Definitions:

Inventory

The total amount of goods and materials held in stock by a business or company.

Gross Investment

The total amount of money spent on acquiring, upgrading, or maintaining physical assets before depreciation is taken into account.

Depreciation

The methodical allocation of the cost of a tangible asset over its useful life.

Interest Rate

The cost of borrowing money or the reward for saving, expressed as a percentage of the money borrowed or saved.