Let x represent the number of times a customer visits a grocery store in a one week period. Assume this is the probability distribution of x:
x |
0 |
1 |
2 |
3 |
p(X) |
0.1 |
0.4 |
0.4 |
0.1 |
Find the expected value of x, the average number of times a customer visits the store.
1. |
2 |
|
2. |
0.1 |
|
3. |
1.5 |
|
4. |
0.4 |
Let x represent the number of times a customer visits a grocery store in a one...
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Let X represent the number of times a customer uses a particular service during a calendar month. Past data shows the following probability distribution for X 0 1 2 3 5 X РX-x) 0.5 0.2 0.1 0.1 0.1 What is the expected number of times a customer uses the service in a month if they use it at least once? Select one or more: а. 1 b. 2.4 с. 1.6 d. 0.5 е. 1.2
Assume that a customer shops at a local grocery store spending an average of $200 a week, resulting a retailer profit of $10 each week from this customer. Assuming the shopper visits the store all 52 weeks of the year, calculate the customer lifetime value if this shopper remains loyal over a 10-year lifespan. Also assume a 5 percent annual interest rate and no initial cost to acquire the customer. Describe ways marketers can increase the lifetime value of a...
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Assume that a customer shops at a local grocery store spending an average of $400 per week, resulting in a retail profit of $40 per week from this customer. Assuming the shopper visits the store all 52 weeks of the year, calculate the customer lifetime value if this shopper remains loyal over a 10-year life span. Also, assume a 8 percent annual interest rate and no initial cost to acquire the customer.
Let X be the number of packages being mailed by a randomly selected customer at a certain shipping facility. Suppose the distribution of X is as follows. x 1 P(x) 0.2 2 0.4 3 4 0.3 0.1 (a) Consider a random sample of size n = 2 (two customers), and let X be the sample mean number of packages shipped. Obtain the probability distribution of X. 1.5 35 (b) Refer to part (a) and calculate PX $ 2.5). (c) Again...
Let X be the number of packages being mailed by a randomly selected customer at a certain shipping facility. Suppose the distribution of X is as follows. 1 0.3 2 0.4 3 0.1 4 0.2 p(x) (a) Consider a random sample of size n = 2 (two customers), and let X be the sample mean number of packages shipped. Obtain the probability distribution of X. 1 1.5 2 2.5 3 3.5 4 POCO (b) Refer to part (a) and calculate...
Let X be the number of packages being mailed by a randomly selected customer at a certain shipping facility. Suppose the distribution of X is as follows. * 1 p(x) 0.2 2 0.4 3 4 0.3 0.1 (a) Consider a random sample of size n 2 (two customers), and let X be the sample mean number of packages shipped. Obtain the probability distribution of X 1 1. 5 2 3.5 PC) 04 125 x 16 X (b) Refer to part...
Susan Shere's grocery store has noted the following figures with regard to the number of people who arrive at the store's three checkout stands and the time it takes to check them out: Arrivals/Minute 0.4 0.3 03 Frequency 0.1 02 03 0.4 Service Time (mieute) Simulate the period. Start at tirne . 0. (nkte. Assurme ยาย random number nerva, begins or 0, and onds of 00. ubilization of the t pner a hmbers 5,56.34,61,27, 0 50, an 3 Recore the...
A fair coin is tossed four times and let x represent the number of heads which comes out a. Find the probability distribution corresponding to the random variable x b. Find the expectation and variance of the probability distribution of the random variable x
Let X denote the number of
times (1, 2, or 3 times) a certain machine malfunctions on any
given day.
2. Let X denote the number of times (1, 2, or 3 times) a certain machine malfunctions on any given day. Let Y denote the number of times (1, 2, or 3 times) a technician is called on an emergency call. The joint probability distribution fxy(x, y) is given by 1 2 y 0.05 1 0.05 0.1 2 0.05 0.1...