If X Is a Binomial Random Variable with N =

question 245

True/False

If X is a binomial random variable with n = 25,and p = 0.25,then P(X = 25)= 1.0.

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Definitions:

Equivalent Interest

The equal effectiveness of different interest rates with respect to compounding periods over a specified period.

Nearest 0.01%

Rounding or approximating a numerical value to the closest one-hundredth of a percent.

Interest Rate

The percentage charged on a loan or paid on an investment for the use of money, calculated on an annual basis.

Nearest 0.01%

Rounding to the closest one-hundredth of a percent to simplify precision in calculations or representations.