The Normal Approximation to the Binomial Distribution Works Best When

question 40

True/False

The normal approximation to the binomial distribution works best when the number of trials is large, and when the binomial distribution is symmetrical (like the normal).

---

Definitions:

Omnichannel Retailing

A retail approach that provides customers with a seamless shopping experience across various channels, including physical stores, online platforms, and mobile applications.

Internet Channel

Digital platforms and networks that facilitate online marketing, sales, and communication between businesses and consumers.

Traditional Store-based

Pertains to physical retail outlets or stores where customers can shop for and purchase goods in person.

Extreme-value Retailer

A type of retailer that sells products at prices significantly lower than those of competitors, often in a no-frills shopping environment.