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Which characteristics are common in a classical organization?
Continuous Random Variable
A variable that can take an infinite number of possible values within a given range.
Probabilities
The measure of the likelihood that an event will occur, represented as a number between 0 and 1, where 1 indicates certainty.
Binomial Random Variable
A type of random variable that represents the number of successes in a sequence of n independent experiments.
Normal Approximation
A method used in statistics to approximate a binomial distribution with a normal distribution when the sample size is large and the probability of success is not too close to 0 or 1.
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