Directions: Analyze and solve the following problems carefully. Problem 1 The Vice-President of ABC Bank feels that each savings account customen has, on average, four credit cards. The following distribution represents the number of credit cards people own. 3. 4. P(X) 0.18 0 44 0.27 0.08 0.03 a. Find the mean and variance of the probability distribution. Fill the table wit the correct values. P(X) X• P(X) (X-) (X-)*• P (X) 0.18 0.44 0.27 3. O 08 0.03

Directions: Analyze and solve the following problems carefully. Problem 1 The Vice-President of ABC Bank feels that each savings account customen has, on average, four credit cards. The following distribution represents the number of credit cards people own. 3. 4. P(X) 0.18 0 44 0.27 0.08 0.03 a. Find the mean and variance of the probability distribution. Fill the table wit the correct values. P(X) X• P(X) (X-) (X-)*• P (X) 0.18 0.44 0.27 3. O 08 0.03

Name: b. Is the Vice President correct? Justify your answer Directions: Ana
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Description: b. Is the Vice President correct? Justify your answer Directions: Analyze and solve the following problems carefully.Problem 1The Vice-President of ABC Bank feels that each savings account customerhas, on average, four credit cards. The following di

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

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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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Question

b. Is the Vice President correct? Justify your answer

Directions: Analyze and solve the following problems carefully.
Problem 1
The Vice-President of ABC Bank feels that each savings account customer
has, on average, four credit cards. The following distribution represents the
number of credit cards people own.
1.
2.
3.
4
P(X)
0.18
0 44
0.27
0.08
0.03
a. Find the mean and variance of the pro bability distribution. Fill the table with
the correct values.
P(X)
X PIX)
(X-)
(X--)*• P (X)
0.18
0.44
0.27
3
O 08
0.03
4,

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