The Binomial Distribution Is Widely Used in Business Applications

question 11

Essay

The binomial distribution is widely used in business applications.Why do you think this is the case?

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Definitions:

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, or artistic fields.

Royalty

A payment made to an owner of certain types of rights, such as patents, copyrights, or natural resources, for the right to use those rights.

Direct Exporting

A method where a company sells its products directly to buyers in a target market abroad.

Emerging Markets

Refers to economies that are in the process of rapid growth and industrialization.