Answered: (a) Show that the mean subscription…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

A popular cricket club in Kumasi, has different categories of membership since its

formation in 1960 when Ghana became a Republic. The following table shows the

categories of membership, the annual subscription for each category of membership and

the probability that a new member will join that category.

Category of membership	Annual subscription ( GH¢ )	Probability
FULL	120.00	0.22
SENIOR	80.00	0.28
COUNTRY	75.00	0.12
JUNIOR	30.00	0.38

(a) Show that the mean subscription paid by new members is GH¢ 69.20

(b) Find the standard deviation of the subscription paid by new members

(c) As the ground capacity is limited, only 400 new members can be accepted during the coming year. The club is to stage an international match and so expects more than 400 applications for membership. As a result, it was decided that only applications for full membership would be accepted. How many full members would the club need to accept in order to receive more money in subscriptions than would have been provided by 400 members distributed as in the table given above?

(d) Give one disadvantage of the decision in part (c).

Expert Solution