What Must You Know to Develop a Binomial Probability Distribution

question 112

Multiple Choice

What must you know to develop a binomial probability distribution?

• A) Probability of success
• B) Number of trials
• C) Number of successes
• D) Probability of success and the number of trials
• E) Probability of success and the number of successes

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Definitions:

Efficient Allocation

The distribution of resources in such a manner that it's impossible to improve anyone's condition without worsening someone else's.

Risk Diversified

The strategy of spreading investments across various assets to reduce exposure to risk in any single area.

Expected Income

The amount of income an individual anticipates or forecasts to receive over a certain period.

Probability

A numeric evaluation representing the probability of an event taking place, where 0 signifies no chance and 1 signifies certainty.