Suppose we have a binomial experiment, and the probability of success on a single trial is 0.02.

Question:

Suppose we have a binomial experiment, and the probability of success on a single trial is 0.02. If there are 150 trials, is it appropriate to use the Poisson to approximate the probability of three successes? Explain.
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...