a. Find the mean and the standard deviation of the number of these computers that will be returned for refunds.b. Find the mean and standard deviation of the total refund cost that will accrue as a result of these 60 purchases. A notebook computer dealer mounts a new promotional campaign. Purchasers of new computers may, if dissatisfied for any reason, return them within 2 days ofpurchase and receive a full refund. The cost to the dealer of such a refund is $75. The dealer estimates that 14% of all purchasers will, indeed, return computers andobtain refunds. Suppose that 60 computers are purchased during the campaign period. Complete parts a. and b. below.

Name: a. Find the mean and the standard deviation of the number of these com
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Description: a. Find the mean and the standard deviation of the number of these computers that will be returned for refunds.b. Find the mean and standard deviation of the total refund cost that will accrue as a result of these 60 purchases. A notebook computer de

The answer can be given using the concept of the binomial theorem.

Answered: a. Find the mean and the standard…

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a. Find the mean and the standard deviation of the number of these computers that will be returned for refunds.

b. Find the mean and standard deviation of the total refund cost that will accrue as a result of these 60 purchases.

A notebook computer dealer mounts a new promotional campaign. Purchasers of new computers may, if dissatisfied for any reason, return them within 2 days of
purchase and receive a full refund. The cost to the dealer of such a refund is $75. The dealer estimates that 14% of all purchasers will, indeed, return computers and
obtain refunds. Suppose that 60 computers are purchased during the campaign period. Complete parts a. and b. below.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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