For a Binomial Process,the Probability of Success Is 40% and the Number

question 97

Multiple Choice

For a binomial process,the probability of success is 40% and the number of trials is 5. Find the expected value.

• A)5.0
• B)1.2
• C)2.0
• D)1.1

---

Definitions:

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), essentially reflecting the percentage of income that is paid in taxes.

Marginal Tax Rate

The rate at which the next dollar of taxable income is taxed.

Taxable Income

The amount of an individual's or entity's income used as the basis for calculating how much tax they owe to the government, after deductions and exemptions.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.