Exhibit 5-7
A sample of 2,500 people was asked how many cups of coffee they drink in the morning. You are given the following sample information. 
-Which of the following is a characteristic of a binomial experiment?
Definitions:
Actual Inflation
The real-time increase in the general price level of goods and services in an economy over a period of time.
Samuelson And Solow
Economists Paul Samuelson and Robert Solow, known for their contributions to welfare economics, public finance, and economic growth theories.
Phillips Curve
A curve that shows the short-run trade-off between inflation and unemployment.
Economic Outcomes
The results or consequences of economic activities and decisions on an individual, regional, or global level, including factors like growth, employment, and wealth distribution.
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