Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A recent consumer behavior survey reports that 75% of all purchases at a supermarket in Launceston are made with a credit card. Let X be

A recent consumer behavior survey reports that 75% of all purchases at a supermarket in Launceston are made with a credit card. Let X be the number among 20 randomly selected purchases made with a credit card.

a)Determine the probability that 15 purchases are made with a credit card, e.g. find P(X=15).

[7 marks]

b)Determine the probability that at least half of the purchases are made with a credit card, e.g. find P(X10).

[7 marks]

c)Determine the mean and variance of the purchases made with a credit card. Discuss your results.

[2+2+2=6 marks]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Linear Algebra A Geometry Toolbox

Authors: Gerald Farin, Dianne Hansford

4th Edition

1003051219, 9781003051213

More Books

Students also viewed these Mathematics questions

Question

Prepare an electronic rsum.

Answered: 1 week ago

Question

Strengthen your personal presence.

Answered: 1 week ago

Question

Identify the steps to follow in preparing an oral presentation.

Answered: 1 week ago