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What are the mean and standard deviation of the number

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Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.08. Suppose that, on a given day, 21 online retail orders are placed. Assume that the number of online retail orders that turn out to be fraudulent is distributed as a binomial random variable.

Problem a. What are the mean and standard deviation of the number of online retail orders that turn out to be fraudulent?

Reference no: EM132763962

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