Only 0.03% of credit card holders of a company report the loss or theft of their...
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Only 0.03% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 20,000 credit cards in the city of Memphis. Use the Poisson probability tables to answer the following questions. (Round your answers to four decimal places.) (a) What is the probability that during the next month in the city of Memphis, no one reports the loss or theft of his or her credit cards? 0.0025 (b) What is the probability that during the next month in the city of Memphis, every credit card is lost or stolen? 0.9975 X (c) What is the probability that during the next month in the city of Memphis, six people report the loss or theft of their cards? 0.1606 (d) What is the probability that during the next month in the city of Memphis, at least nine people report the loss or theft of their cards? 0.1528 (e) Determine the expected number of reported lost or stolen credit cards. (f) 6 Determine the standard deviation for the number of reported lost or stolen cards. 2.45 x Only 0.03% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 20,000 credit cards in the city of Memphis. Use the Poisson probability tables to answer the following questions. (Round your answers to four decimal places.) (a) What is the probability that during the next month in the city of Memphis, no one reports the loss or theft of his or her credit cards? 0.0025 (b) What is the probability that during the next month in the city of Memphis, every credit card is lost or stolen? 0.9975 X (c) What is the probability that during the next month in the city of Memphis, six people report the loss or theft of their cards? 0.1606 (d) What is the probability that during the next month in the city of Memphis, at least nine people report the loss or theft of their cards? 0.1528 (e) Determine the expected number of reported lost or stolen credit cards. (f) 6 Determine the standard deviation for the number of reported lost or stolen cards. 2.45 x
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According to the given information By solving this problem we can use poisson distribution PXx ... View the full answer
Related Book For
Essentials of Statistics for Business and Economics
ISBN: 978-1305081598
7th edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam
Posted Date:
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