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:-

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orchestra answered 1 year ago
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