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Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference)

Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 22PFA
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Suppose that in a day, the probability of a car agents' not closing any deal is 0.35. On the other hand, the probability that he/she can close one deal is 0.3, two deals, 0.25; and three deals, 0.1. prepare/construct probability distribution table for random variable X define as the number of closed deals. create the Probability distribution and compute the mean, variance and standard deviation (below formula for your reference)
The mean, the variance, and the standard deviation of frequency distribution can be used to describe the measures of the center and the variations of the score from the center of the distribution. The formulas are listed below: cores Mean of Binomial Distribution H= n x p Variance of Binomial Distribution o = 4x q Standard Deviation of Binomial Distribution O = Vo
Transcribed Image Text:The mean, the variance, and the standard deviation of frequency distribution can be used to describe the measures of the center and the variations of the score from the center of the distribution. The formulas are listed below: cores Mean of Binomial Distribution H= n x p Variance of Binomial Distribution o = 4x q Standard Deviation of Binomial Distribution O = Vo
Mean, Variance and Standard Deviation of Probability Distribution Formula for the Mean or Expected Value of a Probability Distribution μ= ΣΧ.ΡX Note: E is summation, and means to sum up. To solve: •multiply each value by its probability • sum them up Formula for the Variance: o? = EX?PX - µ? To solve: • square each value and multiply by its probability · sum them up and we get EX²PX • then subtract the square of the Expected Value p? Formula for the Standard Deviation: o O = V o? The Standard Deviation is the square root of the Variance
Transcribed Image Text:Mean, Variance and Standard Deviation of Probability Distribution Formula for the Mean or Expected Value of a Probability Distribution μ= ΣΧ.ΡX Note: E is summation, and means to sum up. To solve: •multiply each value by its probability • sum them up Formula for the Variance: o? = EX?PX - µ? To solve: • square each value and multiply by its probability · sum them up and we get EX²PX • then subtract the square of the Expected Value p? Formula for the Standard Deviation: o O = V o? The Standard Deviation is the square root of the Variance
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