13. The probability that a customer entering an electronics store will make a purchase is equal to...
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13. The probability that a customer entering an electronics store will make a purchase is equal to p ¼ .15, and customers’ decisions whether to purchase electronics equipment are jointly independent random variables.
(a) Simulate the buying behavior of 10 customers entering the store using the following 10 outcomes from a Uniform(0,1) computer random number generator:
(.4194,.3454,.8133,.1770,.5761,.6869,.5394,.
5098,.4966,.5264).
(b) Calculate the sample mean and sample variance, and compare them to the appropriate population mean and variance.
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9781461450214
2nd Edition
Authors: Ron C. Mittelhammer
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