If X Is a Binomial Random Variable with N=10 and P=0.8

question 54

Multiple Choice

If x is a binomial random variable with n=10 and p=0.8, the standard deviation of x is _________.

• A)8.0
• B)1.26
• C)1.60
• D)64.0
• E)10

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Definitions:

Circular-Flow Diagram

A graphical representation of the economic system illustrating the circulation of money between households and companies through various markets.

Market

A forum where buyers and sellers come together to exchange goods, services, or information.

Goods and Services

Goods and services encompass all the physical items and intangible benefits that are produced and consumed to satisfy human wants and needs.

Factors of Production

Factors of production are the inputs used in the production of goods or services in the attempt to make an economic profit, including labor, capital, land, and entrepreneurship.