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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 0.06 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?
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