Which of the Following Distributions Models Events That Have 2

question 64

Multiple Choice

Which of the following distributions models events that have 2 possibilities on each trial?

• A) Normal.
• B) Poisson.
• C) Binomial
• D) gamma.

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Definitions:

Aggregating

The process of combining multiple pieces of data or information into a single group or total, often used to simplify analysis or reporting.

Average Flow Time

The average time that it takes for a unit to move through a specific process or system, from start to finish.

Economic Order Quantity

A formula used to determine the optimal order size that minimizes the sum of ordering, holding, and stockout costs.

Optimal Batch Size

The most efficient quantity of items to produce in a single batch, minimizing the total costs associated with setup, holding, and production.