Decide If It Is Appropriate to Use the Normal Distribution

question 3

Short Answer

Decide if it is appropriate to use the normal distribution to approximate the random variable x for a binomial
experiment with sample size of n = 25 and probability of success p = 0.2

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Definitions:

Scenario Analysis

A process of assessing future trends by analyzing different conceivable future scenarios, enabling decision-makers to prepare for various potential outcomes.

Future

The time or a period of time following the present moment, yet to occur or come into existence.

Scenario Analysis

A planning tool used to make flexible long-term plans that test strategies against diverse future scenarios.

Competitors

Other businesses or entities that offer similar products or services and vie for the same customer base within a market.