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A. A small business just leased a new computer and color laser printer for three years. The service contract for the computer offers unlimited
A. A small business just leased a new computer and color laser printer for three years. The service contract for the computer offers unlimited repairs for a fee of $100 per year plus a $50 service charge for each repair needed. The company's research suggests that during a given year, 46% of these computers needed no repairs, 28% needed to be repaired once, 16% twice, 10% three times, and none required more than three repairs. 1. Find the expected number of repairs this kind of computer is expected to need each year. 2. Find the standard deviation of the number of repairs each year. 3. What are the mean and standard deviation of the company's annual expense for the service contract? B. 58% of people believe in love at first sight. Suppose we take a random sample of 20 people. What is the probability that: 1. Exactly 12 of them believe in love at first sight? 2. 13 or more of them believe in love at first sight? 3. Fewer than 16 of them believe in love at first sight? 4. Extra fun (no points) Use your answer from #3 to answer this question: If you did repeated samples of 20 individuals from the larger population, how many samples would you expect to have to take to find a group where fewer than 16 of them believe in love at first sight?
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