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A marketing agency has developed three vacation packages to promote a timeshare plan at a new resort. They estimate that 20% of potential customers will
A marketing agency has developed three vacation packages to promote a timeshare plan at a new resort. They estimate that 20% of potential customers will choose the Day Plan, which does not include overnight accommodations; 10% will choose the Overnight Plan, which includes one night at the resort; and 70% will choose the Weekend Plan, which includes two nights. Complete parts a and b below. a) Find the expected value of the number of nights potential customers will need. E(X) = 1.5 night(s) (Simplify your answer. Type an integer or a decimal). b) Find the standard deviation of the number of nights potential customers will need. = night(s) (Round to two decimal places as needed.) xample Get more help - Clear all Check
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