Binomial Distributions in Which the Sample Sizes Are Large May

question 52

True/False

Binomial distributions in which the sample sizes are large may be approximated by a Poisson distribution.

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Definitions:

Contract

A legally binding agreement between two or more parties that is enforceable by law.

Third-Party Beneficiary

An individual or entity that benefits from the terms of a contract, despite not being one of the principal parties involved in the agreement.

Incidental Beneficiary

A third party who unintentionally benefits from a contract made between two other parties, without having any enforceable rights under that contract.

Novation

A legal process where an old debt, obligation, or contract is replaced by a new one, effectively extinguishing the original agreement and substituting it with a new party or terms.