One question from a survey was "How many credit cards do you currently have?" The results of the survey are provided. Complete parts (a) through (g) below. Click the icon to view the survey results. (a) Determine the mean number of credit cards based on the raw data. The mean is 3.08 credit cards. (Type an integer or a decimal. Do not round.) (b) Determine the standard deviation number of credit cards based on the raw data. The standard deviation is 1.846 credit cards. (Round to three decimal places as needed.) (c) Determine a probability distribution for the random variable, X, the number of credit cards issued to an individual. (d) Draw a graph of the discrete probability distribution for the random variable X. Describe the shape of the distribution. Graph the distribution. Choose the correct graph below. O A. 0.4 0.3 L... 0 2 4 6 8 10 # of credit cards, x 0.2- 0.1- 0- Q Q G and is O B. 0.4 0.3 0.2- 0.1- lif 0 2 4 6 8 10 # of credit cards, x OPRE Q Q Describe the shape of the distribution. The distribution (e) Determine the mean and standard deviation number of credit cards from the probability distribution found in part (c). Credit Card Survey Results 3 2 3 2 5 2 3 2 4 6 O C. 2 3 2 3 5 3 2 8 3 2 2 2 9 10 3 3 3 2 4 4 1 2 3 2 3 1 1 1 3 1 Print 0.4 0.3 0.24 0.1- 0 3 8 2 2 1 4 5 5 3 3 7 2 2 2 4 1 3 4 3 2 1 5 4 3 3 3 9 3 3 1 Done 0 2 4 6 8 10 # of credit cards, x Q G 3 2 3 3 2 2 3 4 7 2 2 3 3 2 3 1 2 2 4 2 3 2 1 2 1 1 O O D. x (# of cards) 1 2 P(x) x (# of cards) 6 7 8 4 9 5 10 (Type integers or decimals. Do not round.) 3 | 0.4 0.3 0.24 0.1- of fleealliee 0 2 4 6 8 10 #of credit cards, x Q Q G P(x)
One question from a survey was "How many credit cards do you currently have?" The results of the survey are provided. Complete parts (a) through (g) below. Click the icon to view the survey results. (a) Determine the mean number of credit cards based on the raw data. The mean is 3.08 credit cards. (Type an integer or a decimal. Do not round.) (b) Determine the standard deviation number of credit cards based on the raw data. The standard deviation is 1.846 credit cards. (Round to three decimal places as needed.) (c) Determine a probability distribution for the random variable, X, the number of credit cards issued to an individual. (d) Draw a graph of the discrete probability distribution for the random variable X. Describe the shape of the distribution. Graph the distribution. Choose the correct graph below. O A. 0.4 0.3 L... 0 2 4 6 8 10 # of credit cards, x 0.2- 0.1- 0- Q Q G and is O B. 0.4 0.3 0.2- 0.1- lif 0 2 4 6 8 10 # of credit cards, x OPRE Q Q Describe the shape of the distribution. The distribution (e) Determine the mean and standard deviation number of credit cards from the probability distribution found in part (c). Credit Card Survey Results 3 2 3 2 5 2 3 2 4 6 O C. 2 3 2 3 5 3 2 8 3 2 2 2 9 10 3 3 3 2 4 4 1 2 3 2 3 1 1 1 3 1 Print 0.4 0.3 0.24 0.1- 0 3 8 2 2 1 4 5 5 3 3 7 2 2 2 4 1 3 4 3 2 1 5 4 3 3 3 9 3 3 1 Done 0 2 4 6 8 10 # of credit cards, x Q G 3 2 3 3 2 2 3 4 7 2 2 3 3 2 3 1 2 2 4 2 3 2 1 2 1 1 O O D. x (# of cards) 1 2 P(x) x (# of cards) 6 7 8 4 9 5 10 (Type integers or decimals. Do not round.) 3 | 0.4 0.3 0.24 0.1- of fleealliee 0 2 4 6 8 10 #of credit cards, x Q Q G P(x)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
![**Text Transcription for Educational Website**
The standard deviation is [ ] credit cards.
(Round to three decimal places as needed.)
(f) Determine the probability of randomly selecting an individual whose number of credit cards is more than two standard deviations from the mean. Is this result unusual?
The probability is [ ].
(Type an integer or a decimal. Do not round.)
This result [ ] unusual because the probability is [ ]
(g) Determine the probability of randomly selecting two individuals who are issued exactly two credit cards. [Hint: Are the events independent?] Interpret this result.
The probability is [ ].
(Round to three decimal places as needed.)
Interpret this result. Select the correct choice below and fill in the answer box within your choice.
- A. If two individuals were randomly selected and surveyed 100 different times, the surveyors would expect about [ ] of the surveys to result in two people with two credit cards. (Round to the nearest whole number as needed.)
- B. Whenever a couple applies for credit cards, the probability that they will each obtain exactly two credit cards is [ ]. (Round to three decimal places as needed.)
- C. Whenever multiple people are surveyed, the probability that the mean number of credit cards will be exactly two is [ ]. (Round to three decimal places as needed.)
- D. If an individual is chosen at random, the probability that they have exactly two credit cards is [ ]. (Round to three decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faba41a1d-d1f3-4790-876b-aeeed0dbb2e9%2Fdb4c4fc3-c78a-4a4e-bc6c-7148b0653263%2Fwpsppb_processed.png&w=3840&q=75)
Transcribed Image Text:**Text Transcription for Educational Website**
The standard deviation is [ ] credit cards.
(Round to three decimal places as needed.)
(f) Determine the probability of randomly selecting an individual whose number of credit cards is more than two standard deviations from the mean. Is this result unusual?
The probability is [ ].
(Type an integer or a decimal. Do not round.)
This result [ ] unusual because the probability is [ ]
(g) Determine the probability of randomly selecting two individuals who are issued exactly two credit cards. [Hint: Are the events independent?] Interpret this result.
The probability is [ ].
(Round to three decimal places as needed.)
Interpret this result. Select the correct choice below and fill in the answer box within your choice.
- A. If two individuals were randomly selected and surveyed 100 different times, the surveyors would expect about [ ] of the surveys to result in two people with two credit cards. (Round to the nearest whole number as needed.)
- B. Whenever a couple applies for credit cards, the probability that they will each obtain exactly two credit cards is [ ]. (Round to three decimal places as needed.)
- C. Whenever multiple people are surveyed, the probability that the mean number of credit cards will be exactly two is [ ]. (Round to three decimal places as needed.)
- D. If an individual is chosen at random, the probability that they have exactly two credit cards is [ ]. (Round to three decimal places as needed.)
Transcribed Image Text:**Educational Content: Analyzing Survey Data on Credit Card Ownership**
**Survey Question:**
One question from a survey was, "How many credit cards do you currently have?" The results of the survey are provided.
### Survey Data
The survey data can be viewed in a small window titled "Credit Card Survey Results," showing a grid of numbers across different rows, representing the number of credit cards held by various respondents.
### Analysis Tasks
**(a) Mean Calculation**
Determine the mean number of credit cards based on the raw data.
- **Mean**: 3.08 credit cards.
*(Type an integer or a decimal. Do not round.)*
**(b) Standard Deviation Calculation**
Determine the standard deviation of the number of credit cards based on the raw data.
- **Standard Deviation**: 1.846 credit cards.
*(Round to three decimal places as needed.)*
**(c) Probability Distribution**
Determine a probability distribution for the random variable \( X \), the number of credit cards issued to an individual.
- Two tables are shown for recording this distribution. Each table lists \( x \) (the number of credit cards) alongside \( P(x) \) (their probabilities). Both tables are empty, indicating you need to fill in data.
**(d) Discrete Probability Distribution Graph**
Draw a graph of the discrete probability distribution for the random variable \( X \). Describe the shape of the distribution.
- **Graph Selection Options:**
- Four graph options (A, B, C, D) are shown with blue bars representing the probability \( P(x) \) on the y-axis and the number of credit cards \( x \) on the x-axis, ranging from 0 to 10.
- **Description:**
Fill in these blanks: "The distribution ____ and is ____."
**(e) Mean and Standard Deviation from Probability Distribution**
Determine the mean and standard deviation number of credit cards from the probability distribution found in part (c).
### Visualization
Graphs depict potential distributions based on the survey data. Each graph highlights different characteristics of the data, requiring interpretive selection based on completed calculations.
This task requires statistical computations and analysis to complete the probability distribution, select the correct graphical representation, and describe the distribution's shape in terms of skewness or central tendency.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman