%3D Name: Mean, Variance, and Expectation 1. From past experience, a company has found that in carton of transistors, 92% contain no defective transistors, 3% contain one defective transistor, 3% contain two defective transistors, and 2% contain three defective transistors. a. Construct a probability distribution below. (X) b. Calculate the mean, variance, and standard deviation for the defective transistors. The Bank of America VP feels that each savings account customer has, on average, three credit cards. The following distribution represents the number of credit cards people own. X 0 1 2 3 4. P(X) 0.18 0.44 0.27 0.08 0.03 a. Find the mean, variance, and standard deviation. %3D b. Is the VP correct? Name: 3. Rish Florist determines the probabilities for the number of flower arrangements they deliver each day. 6 7 8 9 10 9. 0.2 0.2 0.3 0.2 0.1 (X) a. Find the mean, variance, and standard deviation. b. Approximately how many arrangements should Rish expect to deliver each week? Games & Expectation 1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair? 2. If a person rolls doubles when he tosses two dice, he wins $5. The cost to play the game is $1. Is this game fair?
%3D Name: Mean, Variance, and Expectation 1. From past experience, a company has found that in carton of transistors, 92% contain no defective transistors, 3% contain one defective transistor, 3% contain two defective transistors, and 2% contain three defective transistors. a. Construct a probability distribution below. (X) b. Calculate the mean, variance, and standard deviation for the defective transistors. The Bank of America VP feels that each savings account customer has, on average, three credit cards. The following distribution represents the number of credit cards people own. X 0 1 2 3 4. P(X) 0.18 0.44 0.27 0.08 0.03 a. Find the mean, variance, and standard deviation. %3D b. Is the VP correct? Name: 3. Rish Florist determines the probabilities for the number of flower arrangements they deliver each day. 6 7 8 9 10 9. 0.2 0.2 0.3 0.2 0.1 (X) a. Find the mean, variance, and standard deviation. b. Approximately how many arrangements should Rish expect to deliver each week? Games & Expectation 1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair? 2. If a person rolls doubles when he tosses two dice, he wins $5. The cost to play the game is $1. Is this game fair?
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...
Related questions
Question
Transcribed Image Text:%3D
Name:
Mean, Variance, and Expectation
1. From past experience, a company has found that in carton of transistors, 92% contain no
defective transistors, 3% contain one defective transistor, 3% contain two defective transistors,
and 2% contain three defective transistors.
a. Construct a probability distribution below.
(X)
b. Calculate the mean, variance, and standard deviation for the defective transistors.
The Bank of America VP feels that each savings account customer has, on average, three credit
cards. The following distribution represents the number of credit cards people own.
X 0 1 2 3 4.
P(X) 0.18 0.44 0.27 0.08 0.03
a. Find the mean, variance, and standard deviation.
%3D
b. Is the VP correct?
Transcribed Image Text:Name:
3. Rish Florist determines the probabilities for the number of flower arrangements they deliver
each day.
6 7 8 9 10
9.
0.2 0.2 0.3 0.2 0.1
(X)
a. Find the mean, variance, and standard deviation.
b. Approximately how many arrangements should Rish expect to deliver each week?
Games & Expectation
1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person
is charged $20 to select one bill. Find the expected value for this game. Is this game fair?
2. If a person rolls doubles when he tosses two dice, he wins $5. The cost to play the game is $1.
Is this
game fair?
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 2 steps with 1 images
Recommended textbooks for you
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON