Provide a Short Answer to Each of These Questions

question 3

Essay

Provide a short answer to each of these questions. Be sure to fully explain your answer.
-Is privatization always effective or successful? Give examples of a success and a failure.

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Definitions:

Variance

A measure of the dispersion or spread of a set of data points, calculated as the average of the squared deviations from the mean.

Binomial Distribution

A probability distribution that represents the number of successes in a fixed number of independent trials, with only two possible outcomes.

Binomial Experiment

An experiment or trial that leads to two possible outcomes, often termed success and failure, and follows a binomial distribution.

Identical Trials

Trials in a probability experiment that share the same conditions and possible outcomes.