A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there sa 55% chance of hiring at least two candidates. There is only a 9% chance that it will not make any hires and a 15% chance that it will make all three hires. a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.) Probability b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.) Expected value Standard deviation

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there
is a 55% chance of hiring at least two candidates. There is only a 9% chance that it will not make any hires and a 15%
chance that it will make all three hires.
a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.)
Probability
b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at
least 4 decimal places. Round your final answers to 2 decimal places.)
Expected value
Standard deviation
Transcribed Image Text:A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 55% chance of hiring at least two candidates. There is only a 9% chance that it will not make any hires and a 15% chance that it will make all three hires. a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.) Probability b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.) Expected value Standard deviation
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