36. For the special case of a binomial random variable, we stated that the variance could be...
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36. For the special case of a binomial random variable, we stated that the variance could be computed using the formula σ2 np(1 p). For the Martin Clothing Store problem with n 3 and p .3 we found σ2 np(1 p) 3(.3)(.7) .63. Use the general definition of variance for a discrete random variable, equation (5.5), and the probabilities in Table 5.7 to verify that the variance is in fact .63.
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Essentials Of Modern Business Statistics
ISBN: 9780324312843
3rd Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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