User Account

All Pages

Mean and standard deviation of the number of customers

Assignment Help Basic Statistics
Reference no: EM131444849

When a customer places an order with a certaincompany's on-line supplystore, a computerized accounting information system(AIS) automatically checks to see if the customer has exceeded his or her credit limit. Past records indicate that the probability of customers exceeding their credit limit is 0.07 Supposethat, on a givenday, 24 customers place orders. Assume that the number of customers that the AIS detects as having exceeded their credit limit is distributed as a binomial random variable

  • What are the mean and standard deviation of the number of customers exceeding their credit limits?
  • What is the probability that 0 customers will exceed their limits?
  • What is the probability that 1 customer will exceed his or her limit?
  • What is the probability that 2 or more customers will exceed their limits?

Reference no: EM131444849

Questions Cloud

Compute the expected value of the total time : a. Compute the expected value of the total time it takes to be served at the bank. b. Compute the standard deviation of the total time it takes to be served at the bank.
What is the difference between cooperation and integration : What is the difference between cooperation and integration? What is an integrated health network? Under what circumstances might a long-term care organization choose to join an integrated system? An integrated network?
What are the patient services most commonly provided : What are the patient services most commonly provided by each of the services discussed herein (home healthcare, hospice care, adult day care)?
What is meant by veteran re-acculturation : What is meant by veteran re-acculturation and why is it important to consider when addressing the problem of veterans entangled in criminal justice? Explain your answer.
Mean and standard deviation of the number of customers : What are the mean and standard deviation of the number of customers exceeding their credit limits? What is the probability that 0 customers will exceed their limits? What is the probability that 1 customer will exceed his or her limit?
Domestic airlines inon-time arrivals for domestic flights : A government's department of transportation reported that in2009, airline A led all domestic airlines inon-time arrivals for domestic flights, with a rate of 0.8410.841.
Develop a strategy for investing in two different stocks : You are trying to develop a strategy for investing in two different stocks. The anticipated annual return for a$1,000 investment in each stock under four different economic conditions has the probability distribution shown to the right.
Describe albert bandura and the social cognitive theory : What is the difference between Classical and Operant Conditioning?What are some learning theories? Which has had the greatest effect on studying personality? Why?Describe Albert Bandura and the social cognitive theory.
Describe fundamental value of effective variance analysis : Describe the fundamental value of effective variance analysis and variance reporting in healthcare organizations. Describe the benefits of an alert-based decision support management system for healthcare organizations today.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd