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A number of independent trials such that there are only two outcomes and the probability of "success" remains constant.

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Q: What is needed to develop a bionomial probability distribution?
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What re the three criteria needed for something to be a probability distribution?

A probability distribution must have a well defined domain - that is, the set of possible outcomes.For each possible outcome, there must be a non-negative value associated - the probability of that outcome.The sum of the probabilities, over all possible outcomes, must be 1.


How many standard deviations is needed to capture 75 percent of data?

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A person who wants to be an actuary would have working knowledge of mathematics-including calculus, probability, and statistics-and has demonstrated this knowledge by passing one or two actuarial exams required for professional designation. A degree in finance, mathematics and business would help build the skills needed for success in the field.


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What is the minimum score needed to be in the bottom 10 percent of the normal distribution with a mean of 140 and a standard deviation of 55?

To do this, you first need to convert the percentage into a z-score. The bottom 10% yields a z-score of -1.2816. Multiplying this by 55 and adding to the mean gives 69.512. This means all score less that are 69 or less will be in the bottom 10%