Question

In: Statistics and Probability

A bank vice president feels that each saving account customer has, on average, three credit cards....

A bank vice president feels that each saving account customer has, on average, three credit cards. The following distribution represents the number of credit cards people own.

Number of cards x

0

1

2

3

4

P( X=x)=f(x)

0.18

0.44

0.27

0.08

0.03

Find:

  1. Find the cumulative distribution of the random variable X.
  2. Find the mean of the number of credit cards.
  3. Find the variance and the standard deviation.
  4. Is the vice president correct? Explain.
  5. Find P(X > 1)

Solutions

Expert Solution

orchestra answered 2 years ago
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