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PROBLEM IN MY STATS CLASS: Last spring we ran ads on social media for a soccer camp with our club. We spent $2,000 to get 10,000 ad views ($0.20 per ad view). From this advertising, 10 new customers (0.1% of ad views) clicked through and each paid $100 for our soccer camp. After the camp, one of those new customers (0.01% of ad views) paid $1,000 to join our club for the season. Create the probability distribution table for this situation. What is the expected value of an ad view? Interpret this expected value. What is the standard deviation? Interpret this standard deviation.

PROBLEM IN MY STATS CLASS: Last spring we ran ads on social media for a soccer camp with our club. We spent $2,000 to get 10,000 ad views ($0.20 per ad view). From this advertising, 10 new customers (0.1% of ad views) clicked through and each paid $100 for our soccer camp. After the camp, one of those new customers (0.01% of ad views) paid $1,000 to join our club for the season. Create the probability distribution table for this situation. What is the expected value of an ad view? Interpret this expected value. What is the standard deviation? Interpret this standard deviation.

MATLAB: An Introduction with Applications
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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PROBLEM IN MY STATS CLASS:

Last spring we ran ads on social media for a soccer camp with our club. We spent $2,000 to get 10,000 ad views ($0.20 per ad view). From this advertising, 10 new customers (0.1% of ad views) clicked through and each paid $100 for our soccer camp. After the camp, one of those new customers (0.01% of ad views) paid $1,000 to join our club for the season.

Create the probability distribution table for this situation. What is the expected value of an ad view? Interpret this expected value. What is the standard deviation? Interpret this standard deviation.

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