Let X Be the Number of Successes in 4 Independent

question 105

Multiple Choice

Let X be the number of successes in 4 independent trials of a binomial experiment in which the probability of success is . Find . ​

• A) P(X = 3) = 0.0625 P(1 ≤ X ≤ 3) = 0.2500
• B) P(X = 3) = 0.2500 P(1 ≤ X ≤ 3) = 0.3750
• C) P(X = 3) = 0.2500 P(1 ≤ X ≤ 3) = 0.8750
• D) P(X = 3) = 0.0313 P(1 ≤ X ≤ 3) = 0.2500

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Definitions:

Increase In Supply

A situation where the quantity of a good that producers are willing and able to sell at a particular price rises.

Quantity Supplied

In economics, refers to the total amount of goods or services that producers are willing and able to sell at a given price within a specific time period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price, at a given moment.

Price Floors

Minimum legally allowed prices set above the equilibrium price, typically imposed by the government to ensure producers receive a fair wage.