Here are the essential concepts you must grasp in order to answer the question correctly.
Binomial Probability
Binomial probability refers to the likelihood of obtaining a fixed number of successes in a fixed number of independent Bernoulli trials, each with the same probability of success. It is calculated using the binomial formula, which incorporates the number of trials, the number of successes, and the probability of success. This concept is essential for understanding discrete outcomes in scenarios like coin flips or quality control in manufacturing.
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Normal Distribution
The normal distribution is a continuous probability distribution characterized by its bell-shaped curve, defined by its mean and standard deviation. It is significant in statistics because many phenomena tend to approximate a normal distribution due to the Central Limit Theorem, which states that the sum of a large number of independent random variables will be normally distributed, regardless of the original distribution.
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Continuity Correction
Continuity correction is a technique used when approximating a discrete probability distribution, like the binomial distribution, with a continuous distribution, such as the normal distribution. It involves adjusting the discrete value by 0.5 units to account for the fact that the normal distribution is continuous. This correction improves the accuracy of the approximation, especially when the number of trials is small or the probability of success is not extreme.
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