Question

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 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 0.05 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...

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...

The following table contains the probability distribution for
the number of traffic accidents daily in a small town. Complete
parts (a) and (b) to the right.
Number of Accidents Daily (X)
P(X)
0
0.19
1
0.28
2
0.22
3
0.12
4
0.09
5
0.06
6
0.04
a. Compute the mean number of accidents per day.
μ =1.98 correct
b. Compute the standard deviation.
**** dont know the answer below****
σ =___________
Determine the mean and standard deviation of the variable...

QUESTION 22
Which one of the following is a correct statement about the
probability distribution of a t random variable?
a.
The mean is zero but the standard deviation is greater than
1.
b.
The mean and standard deviation can be any number.
c.
The mean is zero but the standard deviation is less than 1.
d.
The mean is zero and the standard deviation is 1.
QUESTION 23
A professor finds that for 16 randomly selected students the
time...

The Gidget Company makes widgets. If the production process is
working properly, it turns out that the widgets are normally
distributed with a mean length of at least 3.4 feet. Larger widgets
can be used or altered but shorter widgets must be scrapped. You
select a sample of 25 widgets, and the mean length is 3.35 feet
and the sample standard deviation is 0.24 foot. Do you need to
adjust the production equipment? Complete parts (a) through (d).
If you...

North Carolina State University posts the complete grade
distributions for its courses online. The distribution of grades
for all students in all sections of Accounting 210 in the spring
semester of 2001 was
Grade A B C D F
Probability 0.18 0.32 0.34 0.09 0.07
a. Using the scale A = 4, B = 3, C = 2, D = 1, and F = 0, let X
be the grade of a randomly chosen Accounting 210 student. Compute
the mean...

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...

The personnel office at a large electronics firm regularly
schedules job interviews and maintains records of the interviews.
From the past records, they have found that the length of a first
interview is normally distributed, with mean μ = 34
minutes and standard deviation σ = 6 minutes. (Round your
answers to four decimal places.)
(a) What is the probability that a first interview will last 40
minutes or longer?
(b) Six first interviews are usually scheduled per day. What...

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