The Binomial Distribution Is a Discrete Distribution That Deals with a Sequence

question 117

True/False

The binomial distribution is a discrete distribution that deals with a sequence of identical trials, each of which has only two possible outcomes.

---

Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output produced.

Marginal Cost

Marginal cost is the additional cost incurred in the production of one more unit of a good or service.

General Motors

An American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Total Profit

The total income a business obtains after accounting for all expenses, taxes, and costs associated with its operations.