Suppose that for a given computer salesperson, the table below gave the probability distribution of x = the number of systems sold in 1 month. X 1 2 3 4 5 6 7 8 P(x) 0.01 0.12 0.10 0.30 0.30 0.11 0.01 0.05 Calculate the mean value of x (the mean number of systems sold). Calculate the variance and standard deviation of x. How would you interpret these values? What is the probability that the number of systems sold is more than 2 standard deviations from the mean?

Suppose that for a given computer salesperson, the table below gave the probability distribution of x = the number of systems sold in 1 month. X 1 2 3 4 5 6 7 8 P(x) 0.01 0.12 0.10 0.30 0.30 0.11 0.01 0.05 Calculate the mean value of x (the mean number of systems sold). Calculate the variance and standard deviation of x. How would you interpret these values? What is the probability that the number of systems sold is more than 2 standard deviations from the mean?

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...

See similar textbooks

Similar questions

A government sample survey plans to measure the total cholesterol level of an SRS of men aged 20-34. suppose that, in fact, the total cholesterol level of men aged 20-34 follows the normal distribution with a mean of 182 milligrams per deciliter. The standard deviation is 37 milligrams per deciliter. choose an SRS of 1000 men from this population. Now what is the probability that x falls within + or - 2 milligrams per deciliter of the mean?
x f 1 4 2 8 3 7 4 10 5 6 6 3 7 12 8 3 9 5 10 9 find the mean, variance and standard deviation.
On average, a banana will last 6.6 days from the time it is purchased in the store to the time it is too rotten to eat. Is the mean time to spoil different if the banana is hung from the ceiling? The data show results of an experiment with 14 bananas that are hung from the ceiling. Assume that that distribution of the population is normal. 7.9, 6, 5.5, 8.1, 7.9, 8.8, 6.6, 8.7, 6.2, 6.3, 8.6, 6.7, 8.5, 9.3 What can be concluded at the the α = 0.01 level of significance level of significance? a. For this study, we should use [t-test for a population mean b. The alternative hypothesis would be: H₁: Hv c. The test statistic d. Based on this, we should Select an answer e. Thus, the final conclusion is that ... Select an answer (please show your answer to 3 decimal places.) the null hypothesis.
A young investment manager tells his client that the probability of making a positive return with his suggested portfolio is 84%. If it is known that returns are normally distributed with a mean of 4.1%, what is the risk, measured by standard deviation, that this investment manager assumes in his calculation?
I want a solution very quickly
A professor knows that her statistics students' final exam scores have a mean of 79 and a standard deviation of 12.4. In his class, an "A" is any exam score of 90 or higher. This quarter she has 25 students in her class. What is the probability that 7 students or more will score an "A" on the final exam?
Suppose that the walking step lengths of adults are normally distributed with a mean of 2.4 feet and a standard deviation of 0.3 feet. A sample of 34 step lengths is taken. Find the probability that the mean of the sample taken is more than 2.5 feet. Your answer should be from the cumulative normal distribution table.
the outcomes of a discrete random variable follow a Poisson distribution, then their A median equals the standard deviation B.median equals the variance C.mean equals the standard deviation. D. mean equals the variance
On average, a banana will last 6.1 days from the time it is purchased in the store to the time it is too rotten to eat. Is the mean time to spoil greater if the banana is hung from the ceiling? The data show results of an experiment with 13 bananas that are hung from the ceiling. Assume that that distribution of the population is normal. 7.4, 7.5, 7.9, 5.7, 5.9, 8.1, 4.8, 8.7, 6.8, 5.9, 8.2, 5.1, 5.1 What can be concluded at the the αα = 0.10 level of significance level of significance? For this study, we should use Correct The alternative hypothesis would be: H1:H1: Correct Correct Correct The test statistic Correct = (please show your answer to 3 decimal places.) Based on this, we should Correct the null hypothesis. Thus, the final conclusion is that ...
Suppose X, Y and Z are 3 random variables. The mean of X is 2. The mean of Y is 3. The mean of Z is 4. The standard deviations are 1, 2, and 3 (in the same order). The correlation between any two is -1/4. Find the mean and variance of T = X +Y+ 2Z.
A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If 64 applications are randomly selected, what is the probability that the mean credit rating of these 64 applicants will be between 205 and 275. (Round your answer to 4 decimal places.) (Calculator: http://statisticshelper.com/normal-distribution-calculator) A. 0.5011 B. 0.4113 C. 0.2119 D. 0.3664
Suppose the variance of X is 14. What is the variance of .47X?