Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problems Consider the following problem with answer presented Table below; twenty business located a small community here filed wax rerutns for the preceding year five

image text in transcribed
Problems Consider the following problem with answer presented Table below; twenty business located a small community here filed wax rerutns for the preceding year five of the returns were filled out incorrectly. As Internal Revenue Service (TRS) wador randomly selects fourrures for father camination, and the random variables the member of examined returns that are incorrectly Gilled out 0 1 2 3 4 PpX = x) 0.2811 04696 0.2167 0.0310 0.0010 a) Explain whether this table meets the requirements of a probability distribution. b) what is the expected or mean value of x? -> What is the variance ofx? d) If this were a binomial table from your answer to b) what value would you inter for IT? e) using the value found in d), what is the implied variance if I were a binomial distribution? f) From your answerine), why would you conclude this is not a binomial distribution? g) From the problem features described at the start, what property of a binomial distribution is Problems Consider the following problem with answer presented Table below; twenty business located a small community here filed wax rerutns for the preceding year five of the returns were filled out incorrectly. As Internal Revenue Service (TRS) wador randomly selects fourrures for father camination, and the random variables the member of examined returns that are incorrectly Gilled out 0 1 2 3 4 PpX = x) 0.2811 04696 0.2167 0.0310 0.0010 a) Explain whether this table meets the requirements of a probability distribution. b) what is the expected or mean value of x? -> What is the variance ofx? d) If this were a binomial table from your answer to b) what value would you inter for IT? e) using the value found in d), what is the implied variance if I were a binomial distribution? f) From your answerine), why would you conclude this is not a binomial distribution? g) From the problem features described at the start, what property of a binomial distribution is

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

International financial management

Authors: Jeff Madura

9th Edition

978-0324593495, 324568207, 324568193, 032459349X, 9780324568202, 9780324568196, 978-0324593471

More Books

Students also viewed these Finance questions

Question

Why dont we include revenue in this visualization?

Answered: 1 week ago