The Use of the Normal Probability Distribution as an Approximation

question 97

Multiple Choice

The use of the normal probability distribution as an approximation of the sampling distribution of is based on the condition that both np and n(1 - p) equal or exceed

• A).05
• B)5
• C)10
• D)30

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Definitions:

Tax

A compulsory financial charge or levy imposed by a government on individuals or businesses to fund public expenditures.

External Costs

Costs that are not borne by the parties involved in a transaction but rather by third parties or society as a whole.

Efficient Solution

An outcome wherein resources are allocated in the most effective way, maximizing benefits while minimizing costs or wastes.

Internalize Externalities

The process by which a firm takes into account the external costs or benefits of its activities, typically by incorporating them into its pricing structure.