In a Binomial Distribution

question 37

Multiple Choice

In a binomial distribution

• A) the random variable X is continuous.
• B) the probability of event of interest π is stable from trial to trial.
• C) the number of trials n must be at least 30.
• D) the results of one trial are dependent on the results of the other trials.

---

Definitions:

Tax

A mandatory monetary fee or different form of charge placed on a taxpayer by a government entity to finance government operations and assorted public expenses.

Good

A material item or service that satisfies a want or need; can be economic (having monetary value) or free (like air) but is essential for transactions in the market.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits that buyers and sellers receive from participating in the market.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.