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A company wants to evaluate its attrition rate, in other words, how long new hires stay with the company. Over the years, they have established
A company wants to evaluate its attrition rate, in other words, how long new hires stay with the
company. Over the years, they have established the following probability distribution.
Let X = the number of years a new hire will stay with the company.
Let P(x) = the probability that a new hire will stay with the company x years.
a. Complete the distribution table below.
b. On average, how long would you expect a new hire to stay with the company?
x | P(x)
|
0
| 0.12 |
1 | 0.18 |
2 | 0.30 |
3 | 0.15 |
4 |
|
5 | 0.10 |
6 | 0.05 |
E(x)___________
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