Which Is True for a Binomial Distribution

question 22

Multiple Choice

Which is true for a binomial distribution?

• A)There are 10 or more possible outcomes.
• B)The probability of success remains the same from trial to trial.
• C)The value of π is equal to 1.50.
• D)It approximates the Poisson distribution.

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Definitions:

Safety Inventory

A quantity of stock maintained in reserve to protect against uncertainties in demand or supply, ensuring that operations continue smoothly.

Lot Size

The quantity of goods considered to be a standard amount for buying or manufacturing, often determined by considering production efficiency and inventory holding costs.

Fill Rate

The percentage of customer demand that is met without backorders or delays, indicating the efficiency of inventory management.

Forecast Uncertainty

The degree of unpredictability in predicting future events, often related to demand, supply, or other market factors.