A Process Follows the Binomial Distribution with N = 8

question 36

Short Answer

A process follows the binomial distribution with n = 8 and p = .3.Find
a.P(x = 3)
b.P(x > 6)
c.P(x  2)

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Definitions:

Exchange Process

Activity in which two or more parties give something of value to each other to satisfy perceived needs.

Time Utility

Availability of a good or service when customers want to purchase it.

Perceived Needs

The needs that customers believe they need as identified through their personal perceptions, which may not always align with their actual needs.