To bin or not to bin: does binning in multiplicity reliably suppress unwanted volume fluctuations?

In this study, we examine the effect of the so-called Centrality Bin Width Correction (CBWC) on the measurement of (net-)proton number cumulants in nucleus-nucleus collisions. We present an analytically tractable model, which includes correlations between multiplicity and proton number similar to those generated by the decay of baryon resonances. Within this model, we analyze the circumstances under which the CBWC method correctly removes the undesired effects of volume or impact parameter fluctuations. Additionally, we explore situations where the method fails and produces misleading results.