Question
The probability function for the number of insurance policies John will sell to a customer is given by f ( x ) = 0.5 X
The probability function for the number of insurance policies John will sell to a customer is given by
f(x) = 0.5
X |
6 |
forX= 0, 1, or 2.
(a)Is this a valid probability function? Explain your answer.Yes,f(x)0 andf(x)1Yes,f(x)0 andf(x) = 1 No,f(x)0 andf(x)1No,f(x)0 andf(x) = 1(b)What is the probability that John will sell exactly 2 policies to a customer? (Round your answer to three decimal places.)(c)What is the probability that John will sell at least 2 policies to a customer? (Round your answer to three decimal places.)(d)What is the expected number of policies John will sell? (Round your answer to three decimal places.)(e)What is the variance of the number of policies John will sell? (Round your answer to three decimal places.)
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