SOLUTION: A company is studying the number of daily debit card purchses. If there were 20 purchases and the probability of a debit card purchase is 0.5.
a. what is the standard deviation o
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Question 509038: A company is studying the number of daily debit card purchses. If there were 20 purchases and the probability of a debit card purchase is 0.5.
a. what is the standard deviation of the number of debit card purchases
b. based on the shape of the distribution approx 99.7% should be between__and __
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A company is studying the number of daily debit card purchases. If there were 20 purchases and the probability of a debit card purchase is 0.5.
a. what is the standard deviation of the number of debit card purchases
Ans: sqrt(npq) = sqrt(20*1/2*1/2) = sqrt(5)
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b. based on the shape of the distribution approx 99.7% should be between__and __
mean = np = 10
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m-3std = 10-3sqrt(5) is approx 3.29
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m+3std = 10+3sqrt(5) is approx 16.7
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Cheers,
Stan H.
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