What is the mean and variance

Assignment Help Basic Statistics
Reference no: EM131180662

The boss ask you to use probability skills to build a model to help determine the number of staff members assigned to the drive up window at the bank. You know that the most drive up customers in one day is 80 and the smallest amount served is 10. Based on this information which probability model would be a good candidate for the number of drive up customers per day? What is the mean and variance of this model?

Reference no: EM131180662

Questions Cloud

The three main challenges small businesses face : What are the three main challenges small businesses face when they go global?- What strategies can a small company use to deal with each of these challenges?
Context of estimating cash flows for capital budgeting : In the context of estimating cash flows for capital budgeting, sensitivity analysis and simulation analysis is useful. Explain another context where cash flows must be estimated and sensitivity analysis and simulation analysis could be used to measur..
Pros and cons of these two approaches : One member recommends sending the survey to a simple random sample drawn from the parents but another member believes the sample should be stratified according to family income. Base on your knowledge of statistics what are the pros and cons of t..
What is the expected return for the dow jones : The Dow Jones Industrial Average had the following annual returns: Year: Return 2010: 11.02% 2011: 5.53% 2012: 7.26% 2013: 26.50% 2014: 7.52% Using just these 5 years of data, what is the expected return for the Dow Jones? What is the standard deviat..
What is the mean and variance : Based on this information which probability model would be a good candidate for the number of drive up customers per day? What is the mean and variance of this model?
How much is your options investment worth : Calls Puts Strike Close Price Expiration Vol. Last Vol. Last Hendreeks 103 100 Feb 72 5.20 50 2.40 103 100 Mar 41 8.40 29 4.90 103 100 Apr 16 10.68 10 6.60 103 100 Jul 8 14.30 2 10.10 Suppose you buy 35 February 100 call option contracts. How much is..
What forms of assistance are available to small global firms : What forms of assistance are available to small global firms? - Which is likely to be of greatest benefit to small companies? Why?
What about the worst-case scenario : Olin Transmissions, Inc., has the following estimates for its new gear assembly project: price 5 $ 1,400 per unit; variable costs 5 $ 220 per unit; fixed costs 5 $ 3.9 million; quantity 5 85,000 units. What values should the company use for the four ..
What types of businesses would prosper in china : What types of businesses would prosper in China? Why? - What are the challenges and risks associ-ated with doing business in China?

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!

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