The brand name of a certain chain of coffee shops has a 60% recognition rate in the town of Coffeeton. (In other words, a person
The brand name of a certain chain of coffee shops has a 60% recognition rate in the town of Coffeeton. (In other words, a person selected at random knows about the chain with a probability of 0.6.) An executive from the company wants to verify the recognition rate as the company is interested in opening a coffee shop in the town. He/she selects a random sample of 5 Coffeeton residents. Let X be the number of people (out of five above) who will recognize the chain. b) Find the mean and standard deviation of X. 2, appox. 1.2 3, approx. 1.1 5, 2 3, 2
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