Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 4 to 7 refer to Table 1 below. A bank is interested in knowing how many years its clients stay with it. Let x
Question 4 to 7 refer to Table 1 below. A bank is interested in knowing how many years its clients stay with it. Let x be the number of years that a client will stay with the bank and the maximum number of years that the client can stay with the bank is 6. Over the years, the bank has established the following probability distribution: Table 1 X 1 2 3 4 5 6 P(X=X) 0.3 0.35 0.25 ? 0.03 0.02 Question 4 The probability that a client stays 4 years with the bank is A. 0.95 B. 0.05 C. 0.90 D. 0.25 continued ... BEA140-Data Analysis for Business Question 5 The probability that a client stays with the bank less than 3 years is A. 0.25 B. 0.65 C. 0.35 D. 1.5 Question 6 The value for the mean number of years that clients stay with the bank is A. 2.22 B. 0.25 3.30 D. 5.00 Question 7 The value for the standard deviation number of years that clients stay with the bank is A. 1.713 B. 1.292 C. 1.812 D. 1.136
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started