Shirley Ferguson, an insurance broker, believes that for a particular contact the probability of making a sale

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Shirley Ferguson, an insurance broker, believes that for a particular contact the probability of making a sale is 0.4. If the random variable X is defined to take the value 1 if a sale is made and 0 otherwise, then X has a Bernoulli distribution with probability of success P equal to 0.4. Find the mean and the variance of the distribution

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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