A marketing firm is considering making up to three new hires. Given its specific needs, the...

A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 60% chance of hiring at least two candidates. There is only a 7% chance that it will not make any hires and a 10% chance that it will make all three hires.

a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.)

b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.)

Expert Solution

milcah answered 5 hours ago

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