To Determine the Probability of Getting at Least 3 Events

question 213

True/False

To determine the probability of getting at least 3 events of interest in a binomial distribution,you will find the area under the normal curve for X = 2.5 and above.

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Definitions:

Cash Payback Period

The duration required for an investment to generate cash flows sufficient to recover the initial outlay or cost.

Net Income

A company's earnings that remain after subtracting all expenses and taxes from total revenue.

Expenditure

Money spent or cost incurred in an organization's efforts to generate revenue, representing the consumption of goods and services.

Discount Period

The time period between the date of sale and the due date, during which a payment may be made at a reduced rate.