A Jug Contains Five Black Marbles and Five White Marbles

question 109

True/False

A jug contains five black marbles and five white marbles well mixed. A marble is removed and its colour is noted. A second marble is removed, without replacing the first marble, and its colour is also noted. If x is the total number of black marbles in the two draws, then x has a binomial distribution.

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Definitions:

Expected Revenue

The amount of money a business anticipates receiving from the sale of goods or services within a certain time period.

Low-value

Describing items or services that are relatively inexpensive or considered to be of minor importance or worth.

Oral Auction

An event where items or services are sold to individuals who make the highest spoken offer.

True Values

Refers to the actual, inherent value or worth of an item, property, or financial instrument, as opposed to its market price or cost.