West Virginia has one of the highest divorce rates in the nation with an annual rate of
Question:
West Virginia has one of the highest divorce rates in the nation with an annual rate of approximately 5 divorces per 1000 people (Centers for Disease Control and Prevention website, January 12, 2012). The Marital Counseling Center, Inc. (MCC) thinks that the high divorce rate in the state may require them to hire additional staff. Working with a consultant, the management of MCC has developed the following probability distribution for x = the number of new clients for marriage counseling for the next year.
x f(x)
10 ............05
20 ............10
30 ............10
40 ............20
50 ............35
60 ............20
a. Is this probability distribution valid? Explain.
b. What is the probability MCC will obtain more than 30 new clients?
c. What is the probability MCC will obtain fewer than 20 new clients?
d. Compute the expected value and variance of x.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
Essentials Of Statistics For Business And Economics
ISBN: 9781305081598
7th Edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam