The Binomial Distribution Describes the Number Of

question 67

Multiple Choice

The binomial distribution describes the number of:

• A)trials to obtain the first "success" in a Bernoulli process.
• B)trials to obtain n "successes" in a Bernoulli process.
• C)"successes" or "failures" in a Bernoulli process.
• D)"successes" in n Bernoulli trials.

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Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Rival Nation

A country that competes with another, often in economic, military, or technological aspects.

Mercantilism

An economic theory and practice that promotes government regulation of the nation's economy to increase state power at the expense of rival national powers.

Trade Surplus

A situation where a country's exports exceed its imports over a given period.