The probability that a customer entering an electronics store will make a purchase is equal to (p=.15),
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The probability that a customer entering an electronics store will make a purchase is equal to \(p=.15\), and customers' decisions whether to purchase electronics equipment are jointly independent random variables.
(a) Simulate the buying behavior of 10 customers entering the store using the following 10 outcomes from a Uniform \((0,1)\) computer random number generator: (.4194,.3454,.8133,.1770,.5761,.6869,.5394,. \(5098, .4966, .5264)\).
(b) Calculate the sample mean and sample variance, and compare them to the appropriate population mean and variance.
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9781461450221
2nd Edition
Authors: Ron C.Mittelhammer
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