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How do discuss the assumptions for the distribution

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Problem 1: Probability distributions play a major role in business analytics. Many of the situations that we encounter in real-life are of the type success/failure, win/lose, true/false and pass/fail with two options. Comment on the Binomial distribution which is used to characterize these situations. Discuss the assumptions for the distribution and provide two examples.

Reference no: EM132752568

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