This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The probability function for the number of insurance policies John will sell to a customer is given ... (Read 58 times)

shivanipalawai@gmail.com

  • Full Member
  • ***
  • Posts: 140
on: Mar 25, 2023

Question 1

The probability distribution of the daily demand for a product is shown below.

 

Demand

Probability

0

0.05

1

0.10

2

0.15

3

0.35

4

0.20

5

0.10

6

0.05


 

a.What is the expected number of units demanded per day?
b.Determine the variance and the standard deviation.



Question 2

The probability function for the number of insurance policies John will sell to a customer is given by

f(X) = .5 - (X/6) for X = 0, 1, or 2

a.Is this a valid probability function? Explain your answer.
b.What is the probability that John will sell exactly 2 policies to a customer?
c.What is the probability that John will sell at least 2 policies to a customer?
d.What is the expected number of policies John will sell?
e.What is the variance of the number of policies John will sell?

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by shivanipalawai@gmail.com on Mar 25, 2023

annaelena92

  • Full Member
  • ***
  • Posts: 167
Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


shivanipalawai@gmail.com

  • Member
  • Posts: 140
Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
The Scopes Trial: William Jennings Bryan (right) represented the state of Tennessee, and Clarence Da The Scopes Trial: William Jennings Bryan (right) represented the state of Tennessee, and Clarence Da
How to avoid car insurance claims How to avoid car insurance claims
Testing motor function of cranial nerve VII - Frown Testing motor function of cranial nerve VII - Frown
Let f(x)=log10(bottom exponent)x. For each function g(x) i), iii), v Let f(x)=log10(bottom exponent)x. For each function g(x) i), iii), v
Solve this probability question Solve this probability question
Video: Gastrin (protein digestion)

For a complete list of videos, visit our video library