The binomial distribution applies only to cases involving two types of outcomes, whereas the multinomial distribution involves

Question:

The binomial applies only to cases involving two types of outcomes, whereas the multinomial involves more than two categories.
It is helpful to develop the technical skill to calculate means and standard deviations, but it is especially important to develop an ability to interpret the significance of values of means and standard deviations, as shown in part (b) of the preceding example.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...