A Hypergeometric Random Variable X Has a Distribution That Is

question 3

Multiple Choice

A hypergeometric random variable x has a distribution that is approximated by a binomial distribution when:

• A)The number of successes is larger than the number of failures in the population.
• B)A sample is selected from the population without replacement.
• C)The population is much larger than the sample size.
• D)The sample size is half the size of the original population.

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Definitions:

Net Operating Income

The profit realized from a business's operations after subtracting all operating expenses except interest and taxes.

Variable Costing

An accounting method that includes only variable production costs (materials, labor, and overhead) in product costs, excluding fixed overhead costs.

Unit Product Cost

The total cost attributed to producing one unit of product, including direct materials, direct labor, and allocated manufacturing overhead.

Net Operating Income

A company's income after operating expenses have been deducted, but before deducting interest and taxes.