The Following Is a Binomial Probability Distribution with N = $\pi$

question 53

Multiple Choice

The following is a binomial probability distribution with n = 3 and $\pi$ = 0.20.
The mean of the distribution is

• A) 1.5
• B) 0.6
• C) 0.25
• D) 0.0

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Definitions:

Deposit

Money placed into a financial institution for safekeeping or as a part of initiating a larger transaction.

APR

Annual Percentage Rate, which shows the cost of credit on a yearly basis expressed as a percentage.

Compounded Monthly

The process of adding interest to the principal sum of a loan or deposit, or in other words, interest on interest, on a monthly basis.

Deposit

A sum of money placed in a bank account or paid as the first installment on a purchase, establishing a right to the full ownership or to secure a contract.