36. For the special case of a binomial random variable, we stated that the variance could be...

Question:

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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Essentials Of Modern Business Statistics

ISBN: 9780324312843

3rd Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

Question Posted: