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, 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 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
Expert Solution
X :number of online retail orders that turn out to be fraudulent .
X~ bin (n,p)
where, n= 19
p = 0.07
q = (1-p) = (1-0.07) = 0.93
the pmf of the distribution is:-
a).the mean of the number of online retail orders that turn out to be fraudulent be:-
the standard deviation of the number of online retail orders that turn out to be fraudulent be:-
b). the probability that zero online retail orders will turn out to be fraudulent be:-
c).the probability that one online retail order will turn out to be fraudulent be:-
d).the probability that two or more online retail orders will turn out to be fraudulent be:-
*** if you have any doubt regarding the problem please write it in the comment box.if you are satisfied please give me a LIKE if possible..
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, 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...
An online shoe retailer sells women’s shoes in sizes 5 to 10. In the past orders...
An online shoe retailer sells women’s shoes in sizes 5 to 10. In
the past orders for the different shoe sizes have followed the
distribution given in the table provided. The management believes
that recent marketing efforts may have expanded their customer base
and, as a result, there may be a shift in the size distribution for
future orders. To have a better understanding of its future sales,
the shoe seller examined 1,174 sales records of recent orders and
noted...
At a high school, past records indicate that the MSAT scores of students have a mean...
At a high school, past records indicate that the MSAT scores of
students have a mean of 510 and a standard deviation of 90. One
hundred students in the high school are to take the test. What is
the probability that the sample mean score will be (a) within 10 of
the population mean? (b) less than 500? (c) between 495 and 515 (d)
more than 530?
A small business ships specialty homemade candies to anywhere in the world. Past records indicate that...
A small business ships specialty homemade candies to anywhere in
the world. Past records indicate that the weight of orders is
normally distributed. Suppose a random sample of 16 orders is
selected and each is weighed. The sample mean was found to be 110
grams with a standard deviation of 14 grams. Show your work
A. Describe the sampling distribution for the sample mean.
B. What is the standard error?
C.. For 90% confidence, what is the margin of error?...
Past data indicate that probability that troubles in residential service can be repaired on the same...
Past data indicate that probability that troubles in residential
service can be repaired on the same day is 0.6. For the 9 troubles
reported on the same day what is the probability: a) at least 2
will be repaired on the same day? b) what are mean and standard
deviation of this distribution?
The records of a computer retail store show that out of the 20 customers who purchased...
The records of a computer retail store show that out of the 20
customers who purchased a desktop computer last month, all but 5
also purchased a service plan that extends the warranty for an
extra year. Out of the 100 customers who purchased a notebook
computer last month, all but 12 purchased the same service
plan.
Fill in the blanks of the statement below to make the statement
the most reasonable possible.
Last month, customers of the store who...
Alex is taking two courses; algebra and U.S. history. Student records indicate that the probability of...
Alex is taking two courses; algebra and U.S. history. Student
records indicate that the probability of passing algebra is 0.33,
that of failing U.S. history is 0.33, and that of passing at least
one of the two courses is 0.85. Find the probability of the
following.
(a) Alex will pass history.
(b) Alex will pass both courses.
(c) Alex will fail both courses.
(d) Alex will pass exactly one course.
1. Class records at Rockwood College indicate that a student selected at random has probability 0.62...
1. Class records at Rockwood College indicate that a student
selected at random has probability 0.62 of passing French 101. For
the student who passes French 101, the probability is 0.81 that he
or she will pass French 102. What is the probability that a student
selected at random will pass both French 101 and French 102? (Round
your answer to three decimal places.)
2. Isabel Briggs Myers was a pioneer in the study of personality
types. The personality types...
Need; Hypotheses: Test statistic and value: P-value: and Conclusion: A) Past sales records indicate that sometimes...
Need; Hypotheses: Test statistic and value: P-value: and
Conclusion:
A) Past sales records indicate that sometimes there is a large
difference between the selling prices that different sales reps are
able to negotiate for robots. As sales manager, you decide to
randomly select four sales over the past year for each of your
three sales reps and observe the actual selling price of the
robots. The following table shows the amounts at which the robots
sold in thousands of dollars....
Records over the past year show that 1 out of 300 loans made by Mammon Bank...
Records over the past year show that 1 out of 300 loans made by
Mammon Bank have defaulted. Find the probability that 5or more out
of 320 loans will default. Hint: Is it appropriate to use
the Poisson approximation to the binomial distribution? (Round
λ to 1 decimal place. Use 4 decimal places for your
answer.)
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Define a char variable. Read a char value from the keyboard into the variable. Print the...
- If you wanted to store a birthday within code, what class would you use in Java?...
- Explain what is meant by the Theme Park internal and external business environment and use the...
- Description Write a program that prints out your name, the course ID of this class, what...
- A project has an initial cost of $65,475, expected net cash inflows of $12,000 per year...
- Make a program that lets the user enter a positive or negative integer as many times...
- using java, parse a text file to be able to list the word(s) with the highest...
ADVERTISEMENT