Question

67.4% of the applications received for a particular credit card are accepted. Random variable x represents the number of accepted among the random sample of 36 applications. What is the variance o for this distribution? Round your answer to two decimal places.

Answer 1

Solution:

67.4% of the applications received for a particular credit card are accepted. Random variable x represents the number of accepted among the random sample of 36 applications. What is the variance o for this distribution? Round your answer to two decimal places. The random variable x follows the binomial distribution with parameters number of trials, n = 36 and probability of success, p = 0.674 The variance of the random var iable x is: o2 = np(1-p) = 36x 0.674(1-0.674)= 7.91

A recent article in the paper claims that business ethics are at an all-time low. Reporting on a recent sample, the paper claims that 36% of all employees believe their company president possesses low ethical standards. Suppose 20 of a company's employees are randomly and independently sampled and asked if they believe their company president has low ethical standards and their years of experience at the company. Could the probability distribution for the number of years of experience be considered a binomial probability distribution? Select one: No, the probability of "success" category is not 50% No, a binomial distribution requires only two possible outcomes for each experimental unit sampled. Because the random variable the number of years of experience may have more than two possible outcomes like 1 year, 2 years, 3 years, etc Yes, the sample is a random and independent sample. No, the employees would not be considered independent in the present sample.