Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference) The mean, the variance, and the standard deviation of frequency distribution canbe used to describe the measures of the center and the variations of the scorefrom the center of the distribution. The formulas are listed below:coresMean of Binomial DistributionH= n x pVariance of Binomial Distributiono = 4x qStandard Deviation of Binomial DistributionO = Vo Mean, Variance and Standard Deviation of ProbabilityDistributionFormula for the Meanor Expected Value of aProbability Distributionμ= ΣΧ.ΡXNote: E is summation, and means to sum up.To solve:•multiply each value by its probability• sum them upFormula for the Variance:o? = EX?PX - µ?To solve:• square each value and multiply by its probability· sum them up and we get EX²PX• then subtract the square of the Expected Value p?Formula for the Standard Deviation: oO = V o?The Standard Deviation is the square root of the Variance

Consider, X be the random variable that shows the number of deals that are closed. Using the given…

Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference)

Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference)

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...

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