PiXx) ,18 44 .27 ,08 L03 10 MeaN 0324 ,1936 .0729 44 54 24 12 1.34 3. 306 T,31-(134 .31 131- SD= 1,34 1:00 ,9615 VALANCO 7-1.49 2.2 9- A 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. # Cards, X 0. 1 3 Probability of X 0.18 0.44 0.27 0.08 0.03 a. Find the mean and standard deviation. MEAN-I.3 Y, SD=2.2 b. Is the VP correct in her assumption? NO

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

I feel lik I did something wrong here, but I am not sure where. Can someone help me find my mistake?

PiXx)
,18
44
.27
,08
L03
10
MeaN
0324
,1936
.0729
44
54
24
12
1.34
3.
306
T,31-(134
.31
131-
SD=
1,34
1:00
,9615
VALANCO
7-1.49
2.2
9-
Transcribed Image Text:PiXx) ,18 44 .27 ,08 L03 10 MeaN 0324 ,1936 .0729 44 54 24 12 1.34 3. 306 T,31-(134 .31 131- SD= 1,34 1:00 ,9615 VALANCO 7-1.49 2.2 9-
A 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.
# Cards, X
0.
1
3
Probability of X
0.18
0.44
0.27
0.08
0.03
a.
Find the mean and standard deviation.
MEAN-I.3
Y,
SD=2.2
b. Is the VP correct in her assumption?
NO
Transcribed Image Text:A 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. # Cards, X 0. 1 3 Probability of X 0.18 0.44 0.27 0.08 0.03 a. Find the mean and standard deviation. MEAN-I.3 Y, SD=2.2 b. Is the VP correct in her assumption? NO
Expert Solution
Step 1

Given the 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

We need to calculate  the Mean and standard deviation.

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman