Essay
The probability function for the number of insurance policies John will sell to a customer is given by
f(X) = .5 - (X/6) for X = 0, 1, or 2
a.Is this a valid probability function? Explain your answer.
b.What is the probability that John will sell exactly 2 policies to a customer?
c.What is the probability that John will sell at least 2 policies to a customer?
d.What is the expected number of policies John will sell?
e.What is the variance of the number of policies John will sell?
Correct Answer:
Verified
a.yes f(x) 
0 and f...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
0 and f...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q31: Exhibit 5-8<br>The random variable x is the
Q32: Which of the following is not
Q33: In a binomial experiment<br>A)the probability does not
Q34: Exhibit 5-6<br>A sample of 2,500 people was
Q35: The random variable x has the following
Q37: Fifty-five percent of the applications received for
Q38: Exhibit 5-5<br>Probability Distribution <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2206/.jpg" alt="Exhibit 5-5
Q39: The probability distribution of the daily demand
Q39: An experiment consists of making 80 telephone
Q41: Twenty-five percent of all resumes received by