Question
In: Statistics and Probability
Past records indicate that the probability of online retail orders that turn out to be fraudulent...
Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.07 Suppose that, on a given day, 24 online retail orders are placed. Assume that the number of online retail orders that turn out to be fraudulent is distributed as a binomial random variable. Complete parts (a) through (d) below.
a. What are the mean and standard deviation of the number of online retail orders that turn out to be fraudulent?
The mean number of online retail orders that turn out to be fraudulent is
The standard deviation of the number of fraudulent retail orders is
b. What is the probability that zero online retail orders will turn out to be fraudulent?
c. What is the probability that one online retail order will turn out to be fraudulent?
d. What is the probability that two or more online retail orders will turn out to be fraudulent?
Solutions
orchestra answered 1 year agoRelated Solutions
Past records indicate that the probability of online retail orders that turn out to be fraudulent...
Past records indicate that the probability of online
retail orders
that turn out to be fraudulent is 0.07. Suppose that, on a
given
day, 19 online retail orders are placed. Assume that the number
of
online retail orders that turn out to be fraudulent is distributed
as a
binomial random variable.
a. What are the mean and standard deviation of the number of
online
retail orders that turn out to be fraudulent?
b. What is the probability that zero online...
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The records of a computer retail store show that out of the 20
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Need; Hypotheses: Test statistic and value: P-value: and
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