# Question: Past records indicate that the probability of online retail orders

Past records indicate that the probability of online retail orders that turn out to be fraudulent is 0.08. 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.

a. What are the mean and standard deviation of the number of on-line retail orders that turn out to be fraudulent?

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?

a. What are the mean and standard deviation of the number of on-line retail orders that turn out to be fraudulent?

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?

## Answer to relevant Questions

In Example 5.4 on page 186, you and two friends decided to go to Wendy’s. Now, suppose that instead you go to Burger King, which recently filled approximately 82.3% of orders correctly. What is the probability that a. All ...Assume a Poisson distribution with l = 5.0. What is the probability that a. X = 1? b. X < 1? c. X > 1? d. X ≤ 1? J. D. Power and Associates calculates and publishes various statistics concerning car quality. The dependability score measures problems experienced during the past 12 months by original owners of three- year- old vehicles ...Between 1896— when the Dow Jones index was created— and 2013, the index rose in 66% of the years. (Sources: M. H ulbert, “What the Past Can’t Tell Investors,” The New York Times, January 3, 2010, p. BU2 and ...One theory concerning the S& P 500 Index is that if it in-creases during the first five trading days of the year, it is likely to increase during the entire year. From 1950 through 2013, the S& P 500 Index had these early ...Post your question