Given That X Is a Binomial Random Variable, the Binomial $\geq$

question 47

Multiple Choice

Given that X is a binomial random variable, the binomial probability P(X $\geq$ x) is approximated by the area under a normal curve to the right of:

• A)x - 0.5.
• B)x + 0.5.
• C)x - 1.
• D)x + 1.

---

Definitions:

Average Price

Average price is a calculation that sums up the cost of multiple items or services and divides by the number of units to find the mean cost.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.

Markdown

A reduction in the selling price of goods, often used as a strategy to clear inventory or stimulate sales.

Net Margin

A profitability metric calculated as net income divided by revenue, expressed as a percentage, indicating the percentage of revenue that translates into profit.