Determine Whether the Given Procedure Results in a Binomial Distribution

question 182

Multiple Choice

Determine whether the given procedure results in a binomial distribution. If not, state the reason why.
-Rolling a single die 53 times, keeping track of the "fives" rolled.

• A) Procedure results in a binomial distribution.
• B) Not binomial: the trials are not independent.
• C) Not binomial: there are too many trials.
• D) Not binomial: there are more than two outcomes for each trial.

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Definitions:

FIFO

"First-In, First-Out," an inventory valuation method where the cost of goods sold is based on the oldest inventory items.

Lower Of Cost

Lower of Cost or Market (LCM) is an accounting principle that values inventory at the lower of its historical cost or current market value.

Inventory Value

The total cost or market value of all the goods and materials held by a company for the purpose of resale or production.

Market Decline

A decrease in the overall value of a market, evidenced by falling asset prices and often associated with economic downturns.