EC255 Lecture Notes - Lecture 6: Standard Deviation, Probability Distribution
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Variance and st dev of a discrete distribution. Each trial has exactly two possible outcomes: success and failure. Binomial random variable the number of successes out of n trials of a binomial experiment it follows a binomial distribution. A manufacturing plant labels items as either defective or acceptable. A firm bidding for a contract will either get the contract or not. A marketing research firm receives survey responses of yes i will buy or no i will not . New job applicants either accept the offer or reject it. According to a study, approximately 10% of all workers in fake city, are unemployed. Can eliminate this n=20 p=0. 10 q=(1-p)=0. 90 x=1 a. b. c. d. What is the probability that fewer than four purchasers choose oreos? n=20 p=0. 10 q=(1-p)=0. 90 a. b. c. d. According to a survey, oreos control about 10% of the market for cookie brands. Suppose 20 purchasers of cookies are selected randomly from the population.
