a) What is the probability distribution of a variable measuring the number of workers retiring? b) What is the probability that more than three of them will retire this year? c) Summarize the probability distribution for the number of workers that will retire this year using three measures.
It has been reported that 1.7% of the work force in a company will retire this year. Consider a random sample of 200 workers.
a) What is the
b) What is the probability that more than three of them will retire this year?
c) Summarize the probability distribution for the number of workers that will retire this year using three measures.
d) What is the probability that more than three of them will retire this year? Use the Poisson approximation to the binomial.
e) Is the Poisson approximation to the binomial used in d) a good approximation?
f) Once a worker retires, the company organizes a farewell party. Let the costs associated with these parties be a
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