Bricklays Bank of Kenya has established the number of loans approved per week at Duruma Road Branch follows the probability distribution shown below. Loans Approved Per Week Probability 2 0.10 3 0.10 4 0.20 5 0.30 6 0.15 7 0.10 8 0.05 Total 1.00 Required: Compute the expected value of the probability distribution and interpret the results Compute the standard deviation of the probability distribution and interpret the results
Bricklays Bank of Kenya has established the number of loans approved per week at Duruma Road Branch follows the probability distribution shown below. Loans Approved Per Week Probability 2 0.10 3 0.10 4 0.20 5 0.30 6 0.15 7 0.10 8 0.05 Total 1.00 Required: Compute the expected value of the probability distribution and interpret the results Compute the standard deviation of the probability distribution and interpret the results
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Bricklays Bank of Kenya has established the number of loans approved per week at Duruma Road Branch follows the
Loans Approved Per Week |
Probability |
2 |
0.10 |
3 |
0.10 |
4 |
0.20 |
5 |
0.30 |
6 |
0.15 |
7 |
0.10 |
8 |
0.05 |
Total |
1.00 |
Required:
- Compute the
expected value of the probability distribution and interpret the results Compute the standard deviation of the probability distribution and interpret the results
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