Skittles candies come in the colors red, orange, yellow, green, and purple, with each color having equal
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a. What is a "success" in this situation? What is the probability of a success on a single trial?
b. What is a "failure" in this situation? What is the probability of a failure on a single trial? ,
c. Explain in words what X is in terms of the story. What values can take?
d. Why is this a Binomial distribution situation? What are the parameters?
e. What is the probability that you will find exactly 5 purple candies in your sample?
f. What is the probability that you will find at least 2 purple candies in your sample?
g. What is the expected number of purple candies in the sample?
h. What is the standard deviation in the number of purple candies in the sample?
i. If purple candies cost the company 1.5 cents each, with an additional general production fee of 25 cents (not related to the number of purple candies), what is the expected cost of purple candies for this sample?
j. What is the standard deviation of the cost of purple candies in this sample? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Introduction to Probability
ISBN: 978-0716771098
1st edition
Authors: Mark Daniel Ward, Ellen Gundlach
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