A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 60% chance of hiring at least two candidates. There is only a 5% chance that it will not make any hires and a 10% 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 marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 60% chance of hiring at least two candidates. There is only a 5% chance that it will not make any hires and a 10% 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
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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 60% chance of hiring at least two candidates. There is
only a 5% chance that it will not make any hires and a 10% 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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