A Binomial Distribution Has P = 1/3 and Q =

question 69

Multiple Choice

A binomial distribution has p = 1/3 and q = 2/3.How large a sample (n) is necessary to satisfy the criterion for using the normal approximation?​

• A)​10
• B)​15
• C)​27
• D)​30

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Definitions:

Vertical Integration

A strategy where a company expands its operations by taking control of one or more stages in the production or distribution of a product.

Inventory Costs

Expenses associated with holding and managing goods in stock, including warehousing and insurance costs.

Personal Selling

A method of sales where businesses use individuals to sell the product after meeting face-to-face with the customer.

Economies of Scale

Refers to the cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit.