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A coin is flipped 1000 times and you earn 3 dollars every time the coin shows...

A coin is flipped 1000 times and you earn 3 dollars every time the coin shows “Heads” and you give away 2 dollars when the coin shows “Tails”. Define Y = Income after 1000 coin tosses. Then, Y ∼ Binomial distribution. Is this true or false and why?

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