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customers O Because we are interested in whether or not a debit card was used, we...
Customers at a gas station pay with a credit card (A), debit card (8), or cash...
Customers at a gas station pay with a credit card (A), debit card (8), or cash (C). Assume that successive customers make independent choices with P(A) = 0.4, P(B) 0.2, and P(C) = 0.4. (a) Among the next 100 customers, what are the mean and variance of the number who pay with a debit card? customers customers Explain your reasoning. O Because we are interested in whether or not a debit card was used, we can use the binomial distribution....
Of all the customers at a gas station, 40% pay by credit card, and the rest...
Of all the customers at a gas station, 40% pay by credit card, and the rest use cash. (a) Find the probability that out of 5 random customers, at most 1 uses credit card. 0.375 5 x 0.4 x 0.64 0.69 + 5 x 0.4 x 0.64 0.05184 (b) Knowing that at most 1 out of the 5 customers paid using credit card, what is the conditional probability that all 5 customers used cash payment? Answer: Suppose that the customers...
TII t slllaid devilatión of this probability function? 6, 25% of the customers at XYZ Stores use a debit card to pay for their purchases. In a recent market research study, 18 of the Sto...
TII t slllaid devilatión of this probability function? 6, 25% of the customers at XYZ Stores use a debit card to pay for their purchases. In a recent market research study, 18 of the Store's over 20,000 customers on record was randomly selected for two focus groups on new payment technologies. (5 points) a Is the selection of 18 customers a binomial experiment? Please explaun b. What is the probability that 5 of the 18 customers selected use a debit...
We are interested in predicting whether an individual will default on his or her credit card...
We are interested in predicting whether an individual will default on his or her credit card payment, on the basis of annual income and monthly credit card balance. The response default falls into one of two categories, Yes or No. a) Access the data set Default from the ISLR package. b) Print first 5 observations and last 5 observations. c) Fit a simple logistic regression model to model the probability of defaulting the credit card payment based on the monthly...
Compute PIX) using the binomial probability formula. Then determine whether the normal distribution can be used...
Compute PIX) using the binomial probability formula. Then determine whether the normal distribution can be used to estimate this probability. If so, approximate PX) using the normal distribution and compare the result with the exact probability n=47, p=0.5, and X = 21 For n = 47. p=0.5, and X = 21, use the binomial probability formula to find PC 0.0892 (Round to four decimal places as needed) Can the normal distribution be used to approximate this probability? O A. Yes,...
8Compute P(x) using the binomial probability formula. Then determine whether the normal distribution can be used...
8Compute P(x) using the binomial probability formula. Then determine whether the normal distribution can be used to estimate this probability. If so, approximate P(x) using the normal distribution and compare the result with the exact probability. na 72. p-o.77, and x-56 Cli Cli e (page 1).1 page 2).2 For n-72, p-0.77, and x-56, find P(x) using the binomial probability distribution. P(x)- Can the normal distribution be used to approximate this probability? Round to four decimal places as needed.) O A....
3. Suppose we are interested to study the number of customers arriving at a bank in...
3. Suppose we are interested to study the number of customers arriving at a bank in a random work day. Previously we learned that the average number of customers per day is 100. (a) Define a random variable X for the number of customers arriving in a random work day. (b) Find the probability mass function. (c) Computer the probability that there will be at least 75 customers arriving at a random work day. (d)Derive the expected value (mean) of...
compute p(x) using the binomial probability formula. then determine whether the normal distribution can be used...
compute p(x) using the binomial probability formula. then determine whether the normal distribution can be used to estimate this probability. if so, p(x) using the normal distribution and compare the result with the exact probability. n=78, p= 0.83, and x=60 for n= 78, p= 0.83, and x=60, find P(x) using the binomial probability distribution. P(x) _. (round to four decimal places as needed.) can the normal distribution be used to approximate this probability? A. no, the normal distribution cannot be...
Decide whether you can use the normal distribution to approximate the binomial distribution. If you can...
Decide whether you can use the normal distribution to approximate the binomial distribution. If you can use the normal distribution to approximate the indicated probabilities and sketch their graphs. If you cannot explain why and use the binomial distribution to find the indicated probabilities A survey of adults found that 8% say their favorite sport is auto racing. You randomly select 600 adults and ask them to name their favorite sport. Complete parts (a) through (d). Determine whether a normal...
44> Some customers of a retail chain have a store credit card that earns them bonus...
44> Some customers of a retail chain have a store credit card that earns them bonus gifts when they make purchases at the chain. Currently, 40 customers are shopping in a store in this chain. Of these, half already have a store credit card. If employees offer store credit cards to 6 of these, what is the probability that all of those chosen already have a card? (a) Explain why it would not be appropriate to use a binomial model...
Customers at a gas station pay with a credit card (A), debit card (8), or cash (C). Assume that successive customers make independent choices with P(A) = 0.4, P(B) 0.2, and P(C) = 0.4. (a) Among the next 100 customers, what are the mean and variance of the number who pay with a debit card? customers customers Explain your reasoning. O Because we are interested in whether or not a debit card was used, we can use the binomial distribution....
Of all the customers at a gas station, 40% pay by credit card, and the rest use cash. (a) Find the probability that out of 5 random customers, at most 1 uses credit card. 0.375 5 x 0.4 x 0.64 0.69 + 5 x 0.4 x 0.64 0.05184 (b) Knowing that at most 1 out of the 5 customers paid using credit card, what is the conditional probability that all 5 customers used cash payment? Answer: Suppose that the customers...
TII t slllaid devilatión of this probability function? 6, 25% of the customers at XYZ Stores use a debit card to pay for their purchases. In a recent market research study, 18 of the Store's over 20,000 customers on record was randomly selected for two focus groups on new payment technologies. (5 points) a Is the selection of 18 customers a binomial experiment? Please explaun b. What is the probability that 5 of the 18 customers selected use a debit...
Compute PIX) using the binomial probability formula. Then determine whether the normal distribution can be used to estimate this probability. If so, approximate PX) using the normal distribution and compare the result with the exact probability n=47, p=0.5, and X = 21 For n = 47. p=0.5, and X = 21, use the binomial probability formula to find PC 0.0892 (Round to four decimal places as needed) Can the normal distribution be used to approximate this probability? O A. Yes,...
8Compute P(x) using the binomial probability formula. Then determine whether the normal distribution can be used to estimate this probability. If so, approximate P(x) using the normal distribution and compare the result with the exact probability. na 72. p-o.77, and x-56 Cli Cli e (page 1).1 page 2).2 For n-72, p-0.77, and x-56, find P(x) using the binomial probability distribution. P(x)- Can the normal distribution be used to approximate this probability? Round to four decimal places as needed.) O A....
3. Suppose we are interested to study the number of customers arriving at a bank in a random work day. Previously we learned that the average number of customers per day is 100. (a) Define a random variable X for the number of customers arriving in a random work day. (b) Find the probability mass function. (c) Computer the probability that there will be at least 75 customers arriving at a random work day. (d)Derive the expected value (mean) of...
Decide whether you can use the normal distribution to approximate the binomial distribution. If you can use the normal distribution to approximate the indicated probabilities and sketch their graphs. If you cannot explain why and use the binomial distribution to find the indicated probabilities A survey of adults found that 8% say their favorite sport is auto racing. You randomly select 600 adults and ask them to name their favorite sport. Complete parts (a) through (d). Determine whether a normal...
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