Bank of America randomly selected 10 of its customers and asked them how many ti

Question

Bank of America randomly selected 10 of its customers and asked them how many times they typically used their debit card in any given week. Two customers said “zero”, four customers said “one”, two customers said “two”, and the rest said three”. If X represents the number of times a customer typically uses their card in any given week, created the probability distribution for X.

6B. Using the distribution above calculate the E (X).

6C. What is the median number of debit card uses in any given week?

Explanation / Answer

6b)

Total cards = 10, Thus

E(X) = sum(x*p)

= 0*0.2 + 1*0.4 + 2*0.2 + 3*0.2 = 1.4

6c)

From above table we can also write sample space as number of debit card used considering the count as second row

Sample space is (0,0,1,1,1,1,2,2,3,3)

Median = middle term = (5th + 6th) /2 = (1+1)/2 =1

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.