Find the Mean, µ, for the Binomial Distribution Which Has $$\mathrm { n } = 676 ; \mathrm { p } = 0.7$$

question 145

Multiple Choice

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

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

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Definitions:

Estimated Cost

An approximation of the cost or expenditure associated with an activity, project, product, or service, made in the absence of precise information.

Gross Profit Ratio

A financial metric expressing the gross profit as a percentage of net sales, indicating the efficiency of production or service delivery.

Inventory Destroyed

Refers to stock items that have been damaged, expired, or cannot be sold, leading to a loss for the business.

Typical Gross Profit

The average gross profit a company makes after subtracting the cost of goods sold from its net sales.