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A die is rolled 2 times, and success is rolling a number greater than 3. Let x = number of success. Construct the binomial distribution that describes this experiment, and find the mean of this distribution.
Market Basket
A collection of goods and services used to monitor price changes for consumer expenditures, often used in calculating inflation indices.
Base Year
A specific year against which economic growth is measured, serving as a benchmark for real value comparisons over time.
Price Indexes
Price indexes are statistical measures that reflect the average change in prices over time of a basket of goods and services, used to gauge inflation or deflation in an economy.
Nominal GDP
The total value, in current market prices, of all the final goods and services generated within a country's borders over a certain time period.
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