Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.07. Suppose that, on a given day, 18 online retail orders are placed. Assume that the number of online retail orders that turn out to be fraudulent is distributed as a binomial random variable. Complete parts (a) through (d) below. a. What are the mean and standard deviation of the number of online retail orders that turn out to be fraudulent? - X Instructor tip The mean number of online retail orders that turn out to be fraudulent is (Type an integer or a decimal. Round to four decimal places as needed.) The standard deviation of the number of fraudulent retail orders is. (Type an integer or a decimal. Round to three decimal places as needed.) Use BINOM.DIST function in Excel to find binomial probabilities. Use the formulas for the mean and the SD. See my Excel tutorials for more information. b. What is the probability that zero online retail orders will turn out to be fraudulent? (Type an integer or a decimal. Round to four decimal places as needed.) c. What is the probability that one online retail order will turn out to be fraudulent? (Type an integer or a decimal. Round to four decimal places as needed.) retail orders will turn out to be fraudulent? Close
Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.07. Suppose that, on a given day, 18 online retail orders are placed. Assume that the number of online retail orders that turn out to be fraudulent is distributed as a binomial random variable. Complete parts (a) through (d) below. a. What are the mean and standard deviation of the number of online retail orders that turn out to be fraudulent? - X Instructor tip The mean number of online retail orders that turn out to be fraudulent is (Type an integer or a decimal. Round to four decimal places as needed.) The standard deviation of the number of fraudulent retail orders is. (Type an integer or a decimal. Round to three decimal places as needed.) Use BINOM.DIST function in Excel to find binomial probabilities. Use the formulas for the mean and the SD. See my Excel tutorials for more information. b. What is the probability that zero online retail orders will turn out to be fraudulent? (Type an integer or a decimal. Round to four decimal places as needed.) c. What is the probability that one online retail order will turn out to be fraudulent? (Type an integer or a decimal. Round to four decimal places as needed.) retail orders will turn out to be fraudulent? Close
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.07. Suppose that, on a given day, 18 online retail orders are placed. Assume that the number of online retail orders
that turn out to be fraudulent is distributed as a binomial random variable. Complete parts (a) through (d) below.
a. What are the mean and standard deviation of the number of online retail orders that turn out to be fraudulent?
The mean number of online retail orders that turn out to be fraudulent is
(Type an integer or a decimal. Round to four decimal places as needed,)
Instructor tip
The standard deviation of the number of fraudulent retail orders is.
(Type an integer or a decimal. Round to three decimal places as needed.)
Use BINOM.DIST function in Excel to find binomial probabilities. Use
the formulas for the mean and the SD. See my Excel tutorials for
b. What is the probability that zero online retail orders will turn out to be fraudulent?
more information.
(Type an integer or a decimal. Round to four decimal places as needed.)
c. What is the probability that one online retail order will turn out to be fraudulent?
(Type an integer or a decimal. Round to four decimal places as needed.)
d. What is the probability that two or more online retail orders will turn out to be fraudulent?
Close
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