Question

Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.05 Suppose that, on a given day, 21 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?

Answer #1

Past records indicate that the probability of online retail
orders that turn out to be fraudulent is 0.06 Suppose that, on a
given day, 20 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...

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, 18 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...

Fraudulent numbers in tax returns, payment records, invoices,
etc. often display patterns that aren’t present in legitimate
records. It is a striking fact that the first digits of numbers in
legitimate records often have probabilities that follow the model
(known as Benford’s Law) partially shown in the following
probability distribution, where the random variable x is the first
digit of the number. x 1 2 3 4 5 6 7 8 9 P(x) 0.301 0.176 0.125 ?
0.079 0.067 0.058...

Socially conscious investors screen out stocks of alcohol and
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Socially conscious investors screen out stocks of alcohol and
tobacco makers, firms with poor environmental records, and
companies with poor labor practices. Some examples of "good,"
socially conscious companies are Johnson and Johnson, Dell
Computers, Bank of America, and Home Depot. The question is, are
such stocks overpriced? One measure of value is the P/E, or
price-to-earnings ratio. High P/E ratios may indicate a stock is
overpriced. For the S&P Stock Index of all major stocks, the
mean P/E ratio...

1. An online stock trading company makes part of their revenue
from clients when the clients trade stocks therefore, it is
important to the company to have an good idea of how many trades
its clients are making in a given year. In a sample of 111 clients
of an online stock trading company, the average number of trades
per year was 89 with a standard deviation of 18. If you were to
test the hypothesis that the average number...

Socially conscious investors screen out stocks of alcohol and
tobacco makers, firms with poor environmental records, and
companies with poor labor practices. Some examples of "good,"
socially conscious companies are Johnson and Johnson, Dell
Computers, Bank of America, and Home Depot. The question is, are
such stocks overpriced? One measure of value is the P/E, or
price-to-earnings ratio. High P/E ratios may indicate a stock is
overpriced. For the S&P Stock Index of all major stocks, the
mean P/E ratio...

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