A company assumes that 0.5% of the paychecks for a year were calculated incorrectly. The company has

Question:

A company assumes that 0.5% of the paychecks for a year were calculated incorrectly. The company has 200 employees and examines the payroll records from one month.
(a) Find the mean, variance, and standard deviation.
(b) How many employee payroll records would you expect to examine before finding one with an error?
Use the fact that the mean of a geometric is μ = 1/p and the variance is σ2 = q/p2.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...