Solution Found!
Credit Cards A large retail company encourages its
Chapter 5, Problem 5RE(choose chapter or problem)
A large retail company encourages its employees to get customers to apply for the store credit card. Below is the distribution for the number of credit card applications received per employee for an 8-hour shift.
X |
0 |
1 |
2 |
3 |
4 |
5 |
P(X) |
0.27 |
0.28 |
0.20 |
0.15 |
0.08 |
0.02 |
a. What is the probability that an employee will get 2 or 3 applications during any given shift?
b. Find the mean, variance, and standard deviation for this probability distribution.
Questions & Answers
QUESTION:
A large retail company encourages its employees to get customers to apply for the store credit card. Below is the distribution for the number of credit card applications received per employee for an 8-hour shift.
X |
0 |
1 |
2 |
3 |
4 |
5 |
P(X) |
0.27 |
0.28 |
0.20 |
0.15 |
0.08 |
0.02 |
a. What is the probability that an employee will get 2 or 3 applications during any given shift?
b. Find the mean, variance, and standard deviation for this probability distribution.
ANSWER:Solution :
Step 1 of 3
Given the credit card table.
Then the table is given below.
|
X |
P(X) |
|
0 |
0.27 |
|
1 |
0.28 |
|
2 |
0.2 |
|
3 |
0.15 |
|
4 |
0.08 |
|
5 |
0.02 |
Our goal is :
a). We need to find the probability that an employee will get 2 or 3.
b). We need to find the mean, variance, and standard deviation.