(I If π = 1/3 and N = 900, the Mean

question 66

Multiple Choice

(i. If π = 1/3 and n = 900, the mean of this binomial distribution is 300.
(ii. If n = 900 and π = 1/3, the variance of this binomial distribution is 200.
(iii) If π = 1/5 and n = 100, the standard deviation of this binomial distribution is four.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (ii) are correct statements but not (iii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Equilibrium Price

The market price at which the quantity of goods demanded is equal to the quantity of goods supplied.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Exert Pressure

Applying force or influence to achieve a specific outcome or change.

Old Price

Refers to the price level of a good or service in the past, before any adjustments like inflation, discounts, or changes in market conditions.