Suppose you invest a fixed sum of money in each of five Internet business ventures. Assume you

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Suppose you invest a fixed sum of money in each of five Internet business ventures.

Assume you know that 70% of such ventures are successful, the outcomes of the ventures are independent of one another, and the probability distribution for the number, x, of successful ventures out of five isX p(x) 0 .002 1 .029 2 .132 3 .309 4 .360 5 .168

a. Find u = E(x). Interpret the result. b. Find  = VE[(x  )]. Interpret the result. c. Graph p(x). Locate

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Statistics For Business And Economics

ISBN: 9781292227085

13th Global Edition

Authors: Terry Sincich James Mcclave, P. George Benson

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